Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) released its quarterly earnings data on Wednesday. The industrial products company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.06), Morningstar.com reports. The firm had revenue of $71.24 million during the quarter, compared to the consensus estimate of $75.09 million. Ituran Location and Control Ltd. (US) had a net margin of 20.55% and a return on equity of 29.75%.

ITRN stock opened at $25.74 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 1.55. The business has a 50-day moving average price of $28.79 and a 200 day moving average price of $32.62. The company has a market capitalization of $549.29 million, a P/E ratio of 10.51, a PEG ratio of 0.71 and a beta of 0.83. Ituran Location and Control Ltd. has a 1-year low of $24.17 and a 1-year high of $38.50.

The company also recently disclosed a — dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 25th. This represents a dividend yield of 3.6%. Ituran Location and Control Ltd. (US)’s payout ratio is currently 39.18%.



Several research firms recently weighed in on ITRN. Zacks Investment Research downgraded Ituran Location and Control Ltd. (US) from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. BidaskClub downgraded Ituran Location and Control Ltd. (US) from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 21st. Finally, Barclays decreased their price objective on Ituran Location and Control Ltd. (US) from $39.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday.

Several hedge funds have recently added to or reduced their stakes in ITRN. Legal & General Group Plc grew its stake in Ituran Location and Control Ltd. (US) by 58.8% in the fourth quarter. Legal & General Group Plc now owns 929 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 344 shares during the last quarter. Bank of America Corp DE grew its stake in Ituran Location and Control Ltd. (US) by 16.5% in the fourth quarter. Bank of America Corp DE now owns 3,376 shares of the industrial products company’s stock valued at $109,000 after purchasing an additional 477 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in Ituran Location and Control Ltd. (US) by 10.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 10,303 shares of the industrial products company’s stock valued at $310,000 after purchasing an additional 955 shares during the last quarter. Brasada Capital Management LP grew its stake in Ituran Location and Control Ltd. (US) by 7.0% in the second quarter. Brasada Capital Management LP now owns 12,150 shares of the industrial products company’s stock valued at $363,000 after purchasing an additional 800 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its stake in Ituran Location and Control Ltd. (US) by 51.7% in the first quarter. Campbell & CO Investment Adviser LLC now owns 12,757 shares of the industrial products company’s stock valued at $436,000 after purchasing an additional 4,347 shares during the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

About Ituran Location and Control Ltd. (US)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products in Israel, Brazil, Argentina, and the United States. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and personal locator services that allow customers to protect valuable merchandise and equipment.

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Earnings History for Ituran Location and Control Ltd. (US) (NASDAQ:ITRN)

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