Q1 2023 Earnings Estimate for Ituran Location and Control Ltd. (NASDAQ:ITRN) Issued By Jefferies Financial Group

Ituran Location and Control Ltd. (NASDAQ:ITRNGet Rating) – Investment analysts at Jefferies Financial Group lowered their Q1 2023 earnings estimates for shares of Ituran Location and Control in a research note issued on Monday, March 6th. Jefferies Financial Group analyst D. Kelley now forecasts that the industrial products company will earn $0.50 per share for the quarter, down from their previous estimate of $0.52. The consensus estimate for Ituran Location and Control’s current full-year earnings is $2.25 per share. Jefferies Financial Group also issued estimates for Ituran Location and Control’s Q2 2023 earnings at $0.54 EPS, Q4 2023 earnings at $0.59 EPS, FY2023 earnings at $2.20 EPS and FY2024 earnings at $2.50 EPS.

Ituran Location and Control Stock Down 1.2 %

Shares of ITRN opened at $22.46 on Tuesday. Ituran Location and Control has a fifty-two week low of $20.83 and a fifty-two week high of $27.52. The company has a 50 day moving average price of $22.06 and a 200-day moving average price of $22.93.

Ituran Location and Control Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Investors of record on Tuesday, March 21st will be given a dividend of $0.14 per share. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Monday, March 20th. This represents a $0.56 dividend on an annualized basis and a yield of 2.49%. Ituran Location and Control’s dividend payout ratio is presently 23.08%.

Institutional Investors Weigh In On Ituran Location and Control

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Phoenix Holdings Ltd. lifted its position in Ituran Location and Control by 3.8% during the fourth quarter. Phoenix Holdings Ltd. now owns 1,857,597 shares of the industrial products company’s stock valued at $39,496,000 after acquiring an additional 67,370 shares during the last quarter. Ibex Investors LLC increased its stake in Ituran Location and Control by 17.1% during the 4th quarter. Ibex Investors LLC now owns 1,256,500 shares of the industrial products company’s stock valued at $26,550,000 after purchasing an additional 183,037 shares in the last quarter. Y.D. More Investments Ltd acquired a new position in Ituran Location and Control during the 4th quarter valued at approximately $21,978,000. BlackRock Inc. increased its stake in Ituran Location and Control by 2.9% during the 3rd quarter. BlackRock Inc. now owns 426,630 shares of the industrial products company’s stock valued at $9,957,000 after purchasing an additional 12,124 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in Ituran Location and Control by 1.7% during the 2nd quarter. Rice Hall James & Associates LLC now owns 350,110 shares of the industrial products company’s stock valued at $8,574,000 after purchasing an additional 5,907 shares in the last quarter. Hedge funds and other institutional investors own 55.45% of the company’s stock.

About Ituran Location and Control

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Ituran Location & Control Ltd. engages in the provision of stolen vehicle recovery, fleet management, and tracking services. It operates through the following segments: Telematics Services and Telematics Products. The Telematics Services segment consists predominantly of regionally- based stolen vehicle recovery services, fleet management services and value-added services comprised of personal advanced locater services and concierge services.

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