Jefferies Financial Group Research Analysts Cut Earnings Estimates for Ituran Location and Control Ltd. (US) (NASDAQ:ITRN)

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) – Equities researchers at Jefferies Financial Group lowered their Q2 2019 earnings per share (EPS) estimates for shares of Ituran Location and Control Ltd. (US) in a research note issued on Wednesday, May 22nd, according to Zacks Investment Research. Jefferies Financial Group analyst D. Kelley now anticipates that the industrial products company will post earnings per share of $0.67 for the quarter, down from their previous forecast of $0.73. Jefferies Financial Group also issued estimates for Ituran Location and Control Ltd. (US)’s Q3 2019 earnings at $0.68 EPS, FY2019 earnings at $2.75 EPS, Q1 2020 earnings at $0.60 EPS, Q2 2020 earnings at $0.74 EPS, Q3 2020 earnings at $0.70 EPS, Q4 2020 earnings at $0.94 EPS and FY2020 earnings at $2.98 EPS.

A number of other brokerages have also recently weighed in on ITRN. BidaskClub raised shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Barclays set a $39.00 target price on shares of Ituran Location and Control Ltd. (US) and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research downgraded shares of Ituran Location and Control Ltd. (US) from a “hold” rating to a “sell” rating in a research note on Saturday, April 27th.

Shares of NASDAQ ITRN traded up $0.10 during mid-day trading on Thursday, hitting $31.55. 83,502 shares of the stock were exchanged, compared to its average volume of 71,979. The firm has a market cap of $661.59 million, a price-to-earnings ratio of 12.88, a PEG ratio of 0.70 and a beta of 0.93. The company has a current ratio of 1.83, a quick ratio of 1.55 and a debt-to-equity ratio of 0.40. Ituran Location and Control Ltd. has a twelve month low of $29.25 and a twelve month high of $38.50.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last issued its quarterly earnings data on Tuesday, May 21st. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.17). Ituran Location and Control Ltd. (US) had a return on equity of 32.82% and a net margin of 23.24%. The business had revenue of $73.60 million during the quarter, compared to the consensus estimate of $86.76 million.

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its holdings in shares of 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 in the last quarter. Bank of America Corp DE increased its position in Ituran Location and Control Ltd. (US) by 16.5% in the 4th quarter. Bank of America Corp DE now owns 3,376 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 477 shares during the period. Public Employees Retirement Association of Colorado increased its position in Ituran Location and Control Ltd. (US) by 27.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 3,930 shares of the industrial products company’s stock valued at $126,000 after acquiring an additional 857 shares during the period. Aptus Capital Advisors LLC acquired a new position in Ituran Location and Control Ltd. (US) in the 4th quarter valued at approximately $259,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Ituran Location and Control Ltd. (US) in the 4th quarter valued at approximately $299,000. 61.08% of the stock is owned by hedge funds and other institutional investors.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Thursday, June 20th will be issued a dividend of $0.24 per share. This is an increase from Ituran Location and Control Ltd. (US)’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, June 19th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.04%. Ituran Location and Control Ltd. (US)’s payout ratio is 37.55%.

Ituran Location and Control Ltd. (US) Company Profile

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

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