CTS (NYSE:CTS) Issues FY19 Earnings Guidance

CTS (NYSE:CTS) updated its FY19 earnings guidance on Thursday. The company provided EPS guidance of $1.40-1.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.60. The company issued revenue guidance of $460-470 million, compared to the consensus revenue estimate of $476.45 million.

A number of brokerages have recently issued reports on CTS. ValuEngine upgraded CTS from a sell rating to a hold rating in a report on Monday, July 22nd. Stephens began coverage on CTS in a report on Thursday, October 10th. They set an equal weight rating and a $33.00 target price for the company. Finally, Zacks Investment Research upgraded CTS from a sell rating to a hold rating in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. CTS currently has an average rating of Hold and an average target price of $33.50.

Shares of NYSE:CTS opened at $33.77 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.15 and a current ratio of 2.60. CTS has a 1 year low of $24.07 and a 1 year high of $34.29. The stock has a market capitalization of $1.11 billion, a P/E ratio of 22.07 and a beta of 1.31. The stock has a 50-day simple moving average of $31.93 and a 200-day simple moving average of $29.60.

CTS (NYSE:CTS) last issued its earnings results on Thursday, July 25th. The electronics maker reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.02. CTS had a return on equity of 13.92% and a net margin of 10.72%. The business had revenue of $120.68 million during the quarter, compared to analysts’ expectations of $115.10 million. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts predict that CTS will post 1.59 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, September 26th. CTS’s payout ratio is currently 10.46%.

About CTS

CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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Earnings History and Estimates for CTS (NYSE:CTS)

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