CTS (NYSE:CTS – Get Free Report) released its earnings results on Tuesday. The electronics maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01, Briefing.com reports. CTS had a return on equity of 11.98% and a net margin of 10.70%. The firm had revenue of $130.16 million for the quarter, compared to analysts’ expectations of $133.33 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. CTS updated its FY24 guidance to $2.05-2.25 EPS and its FY 2024 guidance to 2.050-2.250 EPS.
CTS Trading Down 1.0 %
CTS stock traded down $0.47 during midday trading on Thursday, hitting $48.42. 415,614 shares of the company’s stock were exchanged, compared to its average volume of 156,467. The business has a 50-day simple moving average of $51.64 and a two-hundred day simple moving average of $47.71. CTS has a 1-year low of $35.50 and a 1-year high of $55.47. The company has a current ratio of 3.41, a quick ratio of 2.71 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.49 billion, a PE ratio of 28.41 and a beta of 0.60.
CTS Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. CTS’s dividend payout ratio is presently 9.41%.
Insider Buying and Selling at CTS
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a research report on Wednesday.
View Our Latest Stock Analysis on CTS
About CTS
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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