CTS (NYSE:CTS) Issues Quarterly Earnings Results

CTS (NYSE:CTS) issued its quarterly earnings results on Tuesday. The electronics maker reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06, Zacks reports. CTS had a net margin of 11.66% and a return on equity of 12.39%. The firm had revenue of $132.42 million for the quarter. During the same period last year, the firm 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 Up 1.8 %

Shares of NYSE:CTS traded up $0.91 during trading on Friday, reaching $50.40. 25,243 shares of the stock were exchanged, compared to its average volume of 148,583. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 2.85. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 25.53 and a beta of 0.57. The stock has a fifty day moving average of $47.85 and a two-hundred day moving average of $49.15. CTS has a 1-year low of $37.60 and a 1-year high of $55.47.

CTS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were issued a $0.04 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.32%. CTS’s payout ratio is 8.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com raised CTS from a “hold” rating to a “buy” rating in a report on Thursday, October 10th. Scotiabank cut shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th.

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.