CTS (NYSE:CTS) Releases Earnings Results, Beats Estimates By $0.12 EPS

CTS (NYSE:CTS) released its quarterly earnings data on Tuesday. The electronics maker reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.12, FiscalAI reports. The company had revenue of $149.58 million during the quarter, compared to analyst estimates of $145.95 million. CTS had a net margin of 12.37% and a return on equity of 13.48%.

CTS Trading Up 1.6%

NYSE CTS opened at $53.92 on Tuesday. CTS has a 1-year low of $36.21 and a 1-year high of $69.55. The company has a current ratio of 2.61, a quick ratio of 2.07 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $57.67 and a 200-day moving average of $56.92. The firm has a market cap of $1.54 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99.

CTS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, September 25th were issued a $0.04 dividend. The ex-dividend date was Friday, September 25th. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. CTS’s payout ratio is currently 6.72%.

Analyst Upgrades and Downgrades

CTS has been the topic of several research analyst reports. Wall Street Zen upgraded shares of CTS from a “hold” rating to a “buy” rating in a research report on Sunday, September 27th. Barrington Research assumed coverage on shares of CTS in a research report on Thursday, September 10th. They set an “outperform” rating and a $80.00 target price for the company. Weiss Ratings upgraded shares of CTS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Zacks Research cut shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Lake Street Capital assumed coverage on shares of CTS in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $67.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, CTS presently has a consensus rating of “Moderate Buy” and an average price target of $73.50.

CTS Company Profile

CTS Corporation (NYSE: CTS) is a designer and manufacturer of sensors, actuators, and electronic components for original equipment manufacturers and industrial customers. The company develops custom-engineered solutions that help measure, control, and manage electrical and mechanical functions in a range of products and systems.

Its offerings include position, pressure, temperature, and motion sensors; piezoelectric and electronic components; switches, controls, and actuators; and other sensing and mechatronic products.