CTS (NYSE:CTS) Releases Earnings Results, Beats Estimates By $0.06 EPS

CTS (NYSE:CTSGet Free Report) released its quarterly earnings results on Tuesday. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06, Zacks reports. CTS had a return on equity of 11.98% and a net margin of 10.70%. The firm had revenue of $132.42 million for the quarter. During the same quarter last year, the business 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 Price Performance

NYSE:CTS traded up $1.03 on Wednesday, reaching $50.76. 213,569 shares of the company’s stock traded hands, compared to its average volume of 148,927. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The stock has a 50-day simple moving average of $47.77 and a 200-day simple moving average of $49.14. The firm has a market cap of $1.56 billion, a PE ratio of 29.86 and a beta of 0.57. CTS has a 12 month low of $35.50 and a 12 month high of $55.47.

CTS Announces Dividend

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

Analyst Ratings Changes

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

View Our Latest Report on CTS

CTS Company Profile

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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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Earnings History for CTS (NYSE:CTS)

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