CTS (NYSE:CTS – Get Free Report) posted its quarterly earnings data on Wednesday. The electronics maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06, Briefing.com reports. CTS had a net margin of 11.00% and a return on equity of 13.41%. The company had revenue of $125.70 million during the quarter, compared to analyst estimates of $126.75 million. During the same quarter last year, the business posted $0.61 earnings per share. The company’s revenue was down 13.9% on a year-over-year basis. CTS updated its FY24 guidance to $2.10-$2.35 EPS and its FY 2024 guidance to 2.100-2.350 EPS.
CTS Stock Performance
Shares of CTS stock traded up $1.31 during trading on Thursday, hitting $48.73. 119,877 shares of the stock were exchanged, compared to its average volume of 149,078. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 25.35 and a beta of 0.62. The company has a fifty day moving average price of $45.18 and a 200-day moving average price of $42.68. CTS has a 1-year low of $35.50 and a 1-year high of $49.00. The company has a current ratio of 3.29, a quick ratio of 2.67 and a debt-to-equity ratio of 0.13.
CTS Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. CTS’s dividend payout ratio is presently 8.33%.
Insider Transactions at CTS
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on CTS. TD Cowen lifted their price target on shares of CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Sidoti lowered shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research note on Wednesday, February 7th.
Get Our Latest Stock Report on CTS
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.
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