Ituran Location Stock Price, News & Analysis

Ituran Location and Control Ltd. (NASDAQ: ITRN) announced the execution of a $25 million share repurchase program, following a previous $6 million buyback in 2019. This decision, made by the Board of Directors, aims to enhance shareholder value and will commence on August 25, 2021. The repurchases will be conducted by its wholly owned subsidiary and funded through available cash, adhering to SEC rules. Eyal Sheratzky, Co-CEO, expressed optimism that the buyback could positively impact shareholder value over the long term.

Ituran Location and Control Ltd. (NASDAQ: ITRN) is set to release its second quarter 2021 results on August 23, 2021. A conference call will follow at 9:00 am Eastern Time, where management will discuss the results and answer investor questions. Participants can join via various dial-in numbers provided for the US, Israel, and internationally. The company specializes in mobility technology and location-based services with a growing subscriber base of nearly 2 million, highlighting its market leadership in Israel and Latin America.

Ituran Location and Control Ltd. (NASDAQ: ITRN) announced that its investment holding, Bringg, has successfully completed a Series E funding round of $100 million, led by Insight Capital. This investment elevates Bringg's valuation to $1 billion, marking it as a unicorn in last-mile delivery technology. Post-investment, Ituran maintains a 17.2% undiluted ownership stake in Bringg. The funds will enhance Bringg's platform and expand its ecosystem in response to growing global demand.

Ituran Location and Control Ltd. (NASDAQ: ITRN) has announced a cash dividend of $0.14 per share, amounting to approximately US$3 million. Shareholders of record as of June 29, 2021, will receive the dividend on July 14, 2021, net of a 25% tax. The Board of Directors confirmed that this distribution will not jeopardize the company's operational capabilities or future plans. Post-distribution, Ituran's retained earnings will be US$122.8 million, with a cash balance of US$64.1 million as of March 31, 2021.

Ituran Location and Control Ltd. (NASDAQ: ITRN) reported Q1 2021 results, showcasing resilience amid the Covid-19 pandemic. Revenue reached $67.4 million, comparable to Q1 2020, with a 6% sequential increase. Net income surged 30% year-over-year to $8.3 million, and adjusted EBITDA rose 12% to $17.1 million. The company added 25,000 aftermarket subscribers while losing 5,000 OEM subscribers, culminating in a total subscriber base of 1,788,000. A $3 million dividend was declared, emphasizing a commitment to shareholder returns.

Ituran Location and Control Ltd. (NASDAQ: ITRN) will announce its first quarter 2021 results on May 25, 2021. The Company will host a conference call at 9:00 AM Eastern Time to discuss these results and respond to investor questions. Interested participants can join using designated dial-in numbers. Ituran provides advanced location-based services and has a growing subscriber base nearing 2 million, serving customers across over 20 countries. Established in 1995, it operates widely in Latin America and Israel.

Ituran Location and Control Ltd. (NASDAQ: ITRN) has formed a strategic partnership with Tokio Marine Insurance, enhancing its presence in the Brazilian auto insurance market. The agreement will utilize Ituran's telematics hardware for vehicle tracking and recovery, benefiting from Tokio Marine's strong market position as the 4th largest insurer in Brazil. The partnership aims to expand Ituran's install base by thousands annually, leveraging advanced AI technology to improve service and reduce insurance claims costs.

Ituran Location and Control Ltd. (NASDAQ: ITRN) announced a cash dividend of $0.48 per share, amounting to approximately US$10 million. The dividend will benefit shareholders of record as of March 23, 2021, with a payment date set for April 6, 2021. As of December 31, 2020, Ituran had retained earnings of US$127.7 million and a cash balance of US$72.2 million. The Board confirmed that this dividend distribution will not hinder the company’s operational capabilities or future plans.

Ituran Location and Control Ltd. (NASDAQ: ITRN) released its financial results for Q4 and full-year 2020, highlighting 1.768 million subscribers and revenue of $245.6 million for the year. Q4 revenue reached $63.6 million, up 5.4% from Q3, despite a 3% decline from Q4 2019. Adjusted EBITDA for Q4 was $16.6 million. The company declared a $10 million dividend and reported a strong operating cash flow of $60.1 million for the year. CEO Eyal Sheratzky expressed optimism about recovery and continued growth amid pandemic challenges.