CTS (NYSE:CTS – Get Free Report) announced its quarterly earnings results on Tuesday. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01, Briefing.com reports. CTS had a net margin of 10.06% and a return on equity of 12.39%. The firm had revenue of $130.16 million for the quarter, compared to analyst estimates of $133.33 million. During the same period last year, the business earned $0.59 EPS. CTS’s revenue for the quarter was down 10.3% compared to the same quarter last year. CTS updated its FY24 guidance to $2.05-2.25 EPS and its FY 2024 guidance to 2.050-2.250 EPS.
CTS Trading Up 2.2 %
NYSE:CTS traded up $1.04 on Wednesday, hitting $48.93. 355,066 shares of the stock were exchanged, compared to its average volume of 154,693. The stock has a market cap of $1.51 billion, a PE ratio of 28.78 and a beta of 0.60. The company has a current ratio of 3.32, a quick ratio of 2.71 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $51.72 and a 200-day moving average of $47.70. CTS has a fifty-two week low of $35.50 and a fifty-two week high of $55.47.
CTS Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were paid a $0.04 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.16 annualized dividend and a yield of 0.33%. CTS’s payout ratio is currently 9.41%.
Insiders Place Their Bets
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th.
Check Out Our Latest Stock Report on CTS
CTS Company Profile
CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.
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