CTS (NYSE:CTS) Issues FY24 Earnings Guidance

CTS (NYSE:CTS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.05-2.25 for the period, compared to the consensus EPS estimate of $2.10. The company issued revenue guidance of $515-525 million, compared to the consensus revenue estimate of $526.60 million. CTS also updated its FY 2024 guidance to 2.050-2.250 EPS.

Analyst Ratings Changes

CTS has been the topic of several recent research reports. Scotiabank downgraded CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. StockNews.com raised CTS from a “hold” rating to a “buy” rating in a report on Thursday, October 10th.

CTS Stock Down 2.5 %

Shares of NYSE:CTS traded down $1.29 during trading on Thursday, reaching $49.49. 199,774 shares of the stock traded hands, compared to its average volume of 149,168. The stock has a market cap of $1.52 billion, a P/E ratio of 29.86 and a beta of 0.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.85 and a current ratio of 3.41. The stock has a 50-day moving average of $47.81 and a two-hundred day moving average of $49.15. CTS has a 52-week low of $35.50 and a 52-week high of $55.47.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $132.42 million during the quarter. CTS had a return on equity of 11.98% and a net margin of 10.70%. During the same period in the previous year, the business posted $0.54 EPS. As a group, sell-side analysts expect that CTS will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

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

About CTS

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.