Ituran Location and Control (NASDAQ:ITRN) Posts Earnings Results, Beats Estimates By $0.05 EPS

Ituran Location and Control (NASDAQ:ITRN) posted its earnings results on Tuesday. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05, FiscalAI reports. The business had revenue of $102.67 million for the quarter, compared to analysts’ expectations of $95.32 million. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%.

Ituran Location and Control Price Performance

Shares of ITRN stock opened at $60.11 on Tuesday. The stock has a 50-day moving average price of $54.68 and a 200 day moving average price of $47.56. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 20.66 and a beta of 0.73. Ituran Location and Control has a 12 month low of $32.71 and a 12 month high of $62.31.

Ituran Location and Control Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Monday, March 30th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 10.0%. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, March 30th. Ituran Location and Control’s dividend payout ratio is 206.19%.

Hedge Funds Weigh In On Ituran Location and Control

Several institutional investors have recently modified their holdings of ITRN. Advisory Services Network LLC acquired a new position in shares of Ituran Location and Control during the 3rd quarter worth about $28,000. Global Retirement Partners LLC increased its position in shares of Ituran Location and Control by 50.1% during the 4th quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 219 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Ituran Location and Control by 327.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 939 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Ituran Location and Control during the 3rd quarter worth approximately $53,000. Finally, Quantbot Technologies LP acquired a new position in Ituran Location and Control in the 3rd quarter valued at $63,000. 94.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITRN has been the subject of several recent research reports. Maxim Group initiated coverage on shares of Ituran Location and Control in a research report on Thursday, March 12th. They set a “buy” rating and a $70.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Ituran Location and Control in a research report on Friday, March 27th. Loop Capital set a $57.00 price target on shares of Ituran Location and Control in a research report on Monday, March 9th. Wall Street Zen lowered shares of Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Barclays increased their target price on shares of Ituran Location and Control from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $60.67.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.