CTS Corporation (NYSE:CTS) Announces $0.04 Quarterly Dividend

CTS Corporation (NYSE:CTS) announced a quarterly dividend on Friday, November 7th. Investors of record on Friday, December 26th will be given a dividend of 0.04 per share by the electronics maker on Friday, January 23rd. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, December 26th.

CTS has a payout ratio of 6.6% indicating that its dividend is sufficiently covered by earnings.

CTS Price Performance

CTS stock opened at $44.01 on Wednesday. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.24 and a beta of 0.93. CTS has a 52-week low of $34.02 and a 52-week high of $54.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.12 and a current ratio of 2.64. The stock’s 50 day moving average price is $42.42 and its two-hundred day moving average price is $41.72.

CTS (NYSE:CTS) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The company had revenue of $142.97 million for the quarter, compared to analyst estimates of $136.40 million. CTS had a net margin of 11.14% and a return on equity of 11.92%. CTS has set its FY 2025 guidance at 2.200-2.250 EPS. On average, equities analysts predict that CTS will post 2.28 earnings per share for the current year.

CTS declared that its Board of Directors has authorized a stock repurchase plan on Friday, November 7th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 8.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About CTS

CTS Corporation (NYSE:CTS) is a global manufacturer and supplier of electronic components and sensors, headquartered in Lisle, Illinois. Established in 1896 as the Chicago Telephone Supply Company, the firm has evolved over more than a century to become a diversified provider of high-precision products for a wide range of end markets.

The company’s core business encompasses the design, development and production of sensors and actuators, frequency control devices such as quartz crystals and filters, multilayer ceramic capacitors, and inductive components.