CTS (NYSE:CTS) Posts Earnings Results, Beats Estimates By $0.06 EPS

CTS (NYSE:CTS) released its quarterly earnings results on Tuesday. The electronics maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06, Zacks reports. CTS had a net margin of 11.66% and a return on equity of 12.39%. The firm had revenue of $132.42 million for the quarter. During the same period in the previous year, the company posted $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 Price Performance

Shares of NYSE CTS traded up $0.91 during trading hours on Friday, reaching $50.40. 25,243 shares of the stock traded hands, compared to its average volume of 148,583. The company has a market capitalization of $1.52 billion, a P/E ratio of 25.53 and a beta of 0.57. The company’s 50-day simple moving average is $47.85 and its two-hundred day simple moving average is $49.15. The company has a quick ratio of 2.85, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. CTS has a 52-week low of $37.60 and a 52-week high of $55.47.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, September 27th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Friday, September 27th. CTS’s payout ratio is currently 8.25%.

Analyst Ratings Changes

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

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.