CTS (NYSE:CTS) Issues FY 2022 Earnings Guidance

CTS (NYSE:CTSGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $2.40-$2.55 for the period, compared to the consensus EPS estimate of $2.50. The company issued revenue guidance of $570.00 million-$600.00 million, compared to the consensus revenue estimate of $583.13 million.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTS. Sidoti upgraded CTS from a neutral rating to a buy rating and set a $43.00 target price on the stock in a report on Wednesday, July 13th. Cowen increased their target price on shares of CTS to $38.00 and gave the company an outperform rating in a report on Wednesday, July 27th. StockNews.com lowered shares of CTS from a strong-buy rating to a buy rating in a research report on Tuesday. TheStreet lowered shares of CTS from a b rating to a c rating in a research note on Wednesday, June 22nd. Finally, Stephens boosted their target price on CTS to $41.00 and gave the stock an outperform rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $33.80.

CTS Price Performance

NYSE:CTS traded up $0.08 during mid-day trading on Friday, hitting $40.83. 130,137 shares of the stock traded hands, compared to its average volume of 133,517. CTS has a 12-month low of $28.72 and a 12-month high of $41.77. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.30 billion, a PE ratio of -60.94 and a beta of 0.80. The business’s 50-day moving average price is $36.76 and its 200 day moving average price is $35.76.

CTS (NYSE:CTSGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The electronics maker reported $0.62 EPS for the quarter, topping the consensus estimate of $0.61 by $0.01. CTS had a positive return on equity of 15.32% and a negative net margin of 4.00%. The company had revenue of $144.98 million during the quarter, compared to analyst estimates of $146.18 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. CTS’s revenue was up 11.9% on a year-over-year basis. On average, analysts expect that CTS will post 2.4 EPS for the current fiscal year.

CTS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Investors of record on Friday, June 17th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, June 16th. This represents a $0.16 annualized dividend and a yield of 0.39%. CTS’s payout ratio is -23.88%.

Insider Activity

In other CTS news, Director Ye Jane Li sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $36.39, for a total value of $145,560.00. Following the sale, the director now owns 7,800 shares of the company’s stock, valued at approximately $283,842. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CTS. Bank of America Corp DE boosted its position in CTS by 17.4% during the 1st quarter. Bank of America Corp DE now owns 253,104 shares of the electronics maker’s stock valued at $8,945,000 after acquiring an additional 37,583 shares in the last quarter. Captrust Financial Advisors lifted its position in CTS by 223.1% during the first quarter. Captrust Financial Advisors now owns 11,161 shares of the electronics maker’s stock valued at $395,000 after buying an additional 7,707 shares during the period. State Street Corp grew its position in shares of CTS by 2.4% in the 1st quarter. State Street Corp now owns 1,076,650 shares of the electronics maker’s stock worth $38,091,000 after buying an additional 25,471 shares during the period. Atria Wealth Solutions Inc. bought a new position in shares of CTS in the 1st quarter worth about $214,000. Finally, Hsbc Holdings PLC lifted its position in CTS by 65.2% during the 1st quarter. Hsbc Holdings PLC now owns 9,115 shares of the electronics maker’s stock valued at $321,000 after acquiring an additional 3,597 shares during the period. 91.02% of the stock is owned by hedge funds and other institutional investors.

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 sensors and actuators for use in passenger or commercial vehicles; connectivity components for telecommunications infrastructure, information technology, and other high-speed applications; switches, temperature sensors, and potentiometers supplied to multiple markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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