ITRN Stock Fair Value – ITURAN LOCATION AND CONTROL Reports Record Earnings for FY2023 Q2
August 17, 2023
🌥️Earnings Overview
ITURAN LOCATION AND CONTROL ($NASDAQ:ITRN) revealed their financial results for Q2 of the fiscal year 2023, ending June 30, 2023 on August 15, 2023. Their total revenue for the quarter was $81.6 million, a rise of 11.2% from the prior year. Their net income also saw a significant increase of 40.2%, totaling $12.2 million year-over-year.
Stock Price
On Tuesday, ITURAN LOCATION AND CONTROL stock opened at $29.0 and closed at $29.3, up by 4.9% from prior closing price of 27.9. This marks an impressive quarter for the company, which reported record earnings for the fiscal year 2023 second quarter. ITURAN LOCATION AND CONTROL is a global leader in advanced vehicle location and driver safety solutions, providing comprehensive solutions for fleet management, security, and safety. The company’s strong performance during this period was driven by the increased demand for its location-based services, such as the real-time tracking of vehicles, driver performance tracking, and fleet management. The company’s products have gained widespread acceptance among customers in both private and commercial sectors.
Additionally, the company has made significant investments in research and development, which is reflected in the quality and performance of its products. ITURAN LOCATION AND CONTROL’s success is further reinforced by the strength of its management team. The company’s CEO, Yair Shahar, has been instrumental in driving the company towards greater heights. He has implemented various strategies to expand the company’s market share and brand recognition. Under his leadership, ITURAN LOCATION AND CONTROL has achieved notable successes in terms of product development and customer service. Overall, ITURAN LOCATION AND CONTROL has reported a very successful quarter with its record earnings for FY2023 Q2. The company’s impressive performance is a testament to its dedication to providing innovative and reliable services to its customers. With continued investments in research and development, ITURAN LOCATION AND CONTROL is poised to achieve further success in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for ITRN. More…
| Total Revenues | Net Income | Net Margin |
| 308.73 | 43.24 | 15.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for ITRN. More…
| Operations | Investing | Financing |
| 62.22 | -20.41 | -38.57 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for ITRN. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 304.12 | 138.47 | 7.92 |
Key Ratios Snapshot
Some of the financial key ratios for ITRN are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.4% | 14.9% | 19.2% |
| FCF Margin | ROE | ROA |
| 14.3% | 23.7% | 12.2% |
Analysis – ITRN Stock Fair Value
At GoodWhale, we have completed an analysis of ITURAN LOCATION AND CONTROL’s financials. Based on our proprietary Valuation Line, we have determined that the fair value of ITURAN LOCATION AND CONTROL shares is approximately $26.0. More…
Peers
The company’s products are used in a variety of applications, including asset tracking, vehicle tracking, and fleet management. Ituran has a strong presence in the Americas, Europe, and Asia-Pacific. The company’s main competitors are PowerFleet Inc, Wi2Wi Corp, and Franklin Wireless Corp.
– PowerFleet Inc ($NASDAQ:PWFL)
Fleet Inc is a technology company that provides software and services to the automotive industry. The company has a market cap of 100.25M as of 2022 and a return on equity of -4.94%. The company’s products and services include fleet management software, vehicle telematics, and driver safety solutions. Fleet Inc’s customers include automotive manufacturers, dealerships, and fleet operators.
– Wi2Wi Corp ($TSXV:YTY)
Wi2Wi Corp is a fabless semiconductor company that provides solutions for the wireless connectivity needs of the Internet of Things. The company’s products include wireless ICs, modules, and software for applications such as connected cars, industrial automation, medical devices, and smart home appliances. Wi2Wi’s market cap is $3.82 million and its ROE is -11.31%.
– Franklin Wireless Corp ($NASDAQ:FKWL)
Franklin Wireless Corp is a leading provider of wireless devices and services. The company has a market cap of 38.91M as of 2022 and a return on equity of -7.38%. The company provides wireless devices and services to customers in the United States and internationally. The company offers a wide range of wireless devices, including smartphones, tablets, hotspots, and other wireless devices. The company also offers a variety of wireless services, including voice, data, and messaging services.
Summary
Investors in Ituran Location and Control Ltd. (ITRN) have had a positive reaction to the company’s financial results for the second quarter of 2023. Total revenue for the quarter came in at USD 81.6 million, representing an 11.2% increase from the previous year, while net income was also up significantly at USD 12.2 million, a 40.2% year-over-year growth.
The stock price rose the same day, reflecting investor confidence in the performance of the company. Looking ahead, analysts remain cautiously optimistic about ITRN’s long-term prospects and believe that the company can continue to increase revenues and profitability in the coming quarters.
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