Ituran Location and Control Ltd. (NASDAQ:ITRN) stock observed trading -12.03% off 52-week high price. On the other end, the stock has been noted 15.79% away from low price over the last 52-weeks. The stock disclosed a move of -3.32% away from 50 day moving average and -0.78% away from 200 day moving average. Moving closer, we can see that shares have been trading -2.66% off 20-day moving average. It has market cap of $793.57M and dividend yield of 2.72%.
Ituran Location and Control Ltd. (NASDAQ:ITRN) reported that the Board of Directors approved the distribution of a cash dividend in the amount of $0.24 per share, totaling approximately US$ 5 million. The dividend will be paid to shareholders of record as of June 20, 2019. The Company will pay the dividend out on July 3, 2019 net of taxes at the rate of 25%.
In its decision to approve the distribution of the cash dividend, the Board of Directors examined whether the Company meets the distribution criteria according to Israeli law. The Board of Directors concluded that the abovementioned distribution will not undermine the Company’s ability to keep performing in its current course of business or future plans, and is able to meet its undertakings when due.
Retained earnings as of March 31, 2019, prior to the distribution was US$ 132.8 million and retained earnings will reach US$ 127.8 million after the distribution. The Board of Directors emphasized that as of March 31, 2019, the Company had a cash balance in hand of US$53.0 million (this amount is prior to the payment of a dividend of US$ 5 million which was issued for the fourth quarter of 2018 and was paid out in April 2019) and the company had also a long-term debt of US$ 60.3 million and Credit from banking institutions of US$ 13.3 million. As of March 31, 2019, the Company’s current assets (excluding cash, cash equivalents) were in the sum of US$ 131.2 million and current liabilities were in the sum of US$ 100.8 million.
The Israel based company Ituran Location and Control Ltd. moved with change of 0.15% to $33.87 with the total traded volume of 21466 shares in recent session versus to an average volume of 43.14K. The stock was observed in the 5 days activity at 4.60%. The one month performance of stock was -8.31%. ITRN’s shares are at -0.47% for the quarter and driving a 8.56% return over the course of the past year and is now at 5.65% since this point in 2018. Right now the stock beta is 0.87. The average volatility for the week and month was at 3.19% and 2.42% respectively. There are 23.43M shares outstanding and 20.92M shares are floated in market.
William Wall is a self-taught investor and follows the value investing approach to picking stocks. He possesses over 10 years of investment experience, an M.B.A. from Louisiana State University, and is also certified in Risk Management Assurance. William is a Certified Internal Auditor, Data Miner, and author with a career broadly spanning over multiple business areas. He has exploited those observations and developed investment tactics within a fundamentally sound long-term investment strategy. He currently covers Earnings News category for our site.
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