CTS (NYSE:CTS) Issues Earnings Results

CTS (NYSE:CTS) posted its quarterly earnings data on Tuesday. The electronics maker reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02, FiscalAI reports. The company had revenue of $137.27 million for the quarter, compared to the consensus estimate of $135.86 million. CTS had a return on equity of 11.92% and a net margin of 11.14%.

CTS Price Performance

NYSE CTS opened at $55.65 on Tuesday. The company has a current ratio of 2.64, a quick ratio of 2.12 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $46.98 and a 200 day simple moving average of $43.14. The company has a market cap of $1.62 billion, a P/E ratio of 28.25, a P/E/G ratio of 1.45 and a beta of 0.89. CTS has a 1 year low of $34.02 and a 1 year high of $56.15.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of CTS in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, CTS has a consensus rating of “Hold”.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of CTS by 11.2% in the first quarter. Royal Bank of Canada now owns 7,036 shares of the electronics maker’s stock valued at $292,000 after purchasing an additional 710 shares during the last quarter. Entropy Technologies LP bought a new stake in CTS during the 3rd quarter valued at approximately $341,000. Captrust Financial Advisors boosted its stake in CTS by 12.1% during the 2nd quarter. Captrust Financial Advisors now owns 8,113 shares of the electronics maker’s stock valued at $346,000 after purchasing an additional 876 shares during the period. AQR Capital Management LLC grew its holdings in CTS by 19.4% in the 1st quarter. AQR Capital Management LLC now owns 9,576 shares of the electronics maker’s stock valued at $398,000 after buying an additional 1,558 shares during the last quarter. Finally, Amundi increased its position in CTS by 9.7% in the 1st quarter. Amundi now owns 11,542 shares of the electronics maker’s stock worth $480,000 after buying an additional 1,019 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

CTS Company Profile

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.