Fed governors may dissent against Powell amid Trump pressure - WSJ’s Timiraos
In a notable performance, Ituran Location and Control Ltd. (ITRN) stock has reached a 52-week high, touching $30.05. The company's strong financial health is reflected in its "GREAT" rating from InvestingPro, with the stock delivering an impressive 14.26% return year-to-date. This peak reflects a significant uptrend for the company, which specializes in advanced GPS tracking and location-based services. Over the past year, Ituran has seen its stock value increase by 11.7%, while maintaining a notable 5.23% dividend yield and an attractive P/E ratio of 11.38. The company has consistently paid dividends for 19 consecutive years, demonstrating its commitment to shareholder returns. The achievement of this 52-week high serves as a testament to the company's strategic initiatives and its ability to adapt to the dynamic demands of the location-based services industry. According to InvestingPro analysis, the stock appears undervalued relative to its Fair Value, suggesting potential for further appreciation. For deeper insights into ITRN's valuation and 12 additional ProTips, consider exploring the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Ituran has reported a strong performance for its third quarter of 2024, with significant growth in both revenue and profit. The company's revenue increased by 3% to $83.5 million, while net income rose by 9% to $13.7 million. Ituran also added 40,000 net subscribers, aligning with its high-end projections despite the strong U.S. Dollar.
Additionally, Ituran has been expanding its presence in Latin America, securing a 5-year contract with Nissan (OTC:NSANY) Chile. The company also maintains a strong net cash position of $67.3 million and has declared an $8 million dividend. Ituran reaffirmed its full-year EBITDA guidance to be between $90-95 million, signaling optimism about its long-term growth potential.
The company is actively seeking new OEM partnerships and is advancing in usage-based insurance solutions. However, it faced challenges due to the strength of the U.S. Dollar, which impacted financial outcomes. These recent developments highlight Ituran's strategic focus on growth and expansion, particularly in the Latin American markets.
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