CTS (NYSE:CTS) Announces Quarterly Earnings Results

CTS (NYSE:CTS) released its earnings results on Tuesday. The electronics maker reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06, Zacks reports. The business had revenue of $132.42 million for the quarter. CTS had a return on equity of 11.98% and a net margin of 10.70%. During the same quarter last year, the business earned $0.54 EPS. CTS updated its FY24 guidance to $2.05-2.25 EPS and its FY 2024 guidance to 2.050-2.250 EPS.

CTS Trading Up 2.1 %

NYSE:CTS traded up $1.03 during trading hours on Wednesday, hitting $50.76. The company had a trading volume of 213,569 shares, compared to its average volume of 148,927. CTS has a 1 year low of $35.50 and a 1 year high of $55.47. The company has a market cap of $1.56 billion, a P/E ratio of 29.48 and a beta of 0.57. The company has a 50-day moving average of $47.77 and a 200 day moving average of $49.14. The company has a current ratio of 3.41, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12.

CTS Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Friday, September 27th. CTS’s dividend payout ratio (DPR) is currently 9.41%.

Analyst Ratings Changes

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

CTS Company Profile

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.