CTS (NYSE:CTS) Issues Earnings Results, Beats Expectations By $0.06 EPS

CTS (NYSE:CTS) posted its quarterly earnings data on Tuesday. The electronics maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06, Zacks reports. CTS had a net margin of 10.70% and a return on equity of 11.98%. The company had revenue of $132.42 million for the quarter. During the same period last year, the company earned $0.54 earnings per share. CTS updated its FY24 guidance to $2.05-2.25 EPS and its FY 2024 guidance to 2.050-2.250 EPS.

CTS Stock Down 0.7 %

CTS stock traded down $0.34 during trading on Thursday, hitting $50.44. 4,442 shares of the company’s stock traded hands, compared to its average volume of 148,229. The firm has a market capitalization of $1.55 billion, a P/E ratio of 29.86 and a beta of 0.57. The business has a fifty day simple moving average of $47.81 and a two-hundred day simple moving average of $49.15. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. CTS has a 1 year low of $35.50 and a 1 year high of $55.47.

CTS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.32%. The ex-dividend date was Friday, September 27th. CTS’s payout ratio is 9.41%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank lowered shares of CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. StockNews.com raised shares of CTS from a “hold” rating to a “buy” rating in a research report on Thursday, October 10th.

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.