CTS (CTS) to Release Earnings on Wednesday

CTS (NYSE:CTS) is set to post its quarterly earnings results before the market opens on Wednesday, May 1st. CTS has set its FY24 guidance at $2.10-2.35 EPS and its FY 2024 guidance at 2.100-2.350 EPS.Parties interested in listening to the company’s conference call can do so using this link.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $124.69 million during the quarter, compared to analyst estimates of $124.51 million. CTS had a net margin of 11.00% and a return on equity of 13.41%. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. On average, analysts expect CTS to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

CTS Trading Up 4.0 %

Shares of CTS stock opened at $45.52 on Wednesday. CTS has a 1-year low of $35.50 and a 1-year high of $47.90. The company’s fifty day simple moving average is $45.06 and its 200-day simple moving average is $42.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.29 and a quick ratio of 2.67. The stock has a market capitalization of $1.40 billion, a PE ratio of 23.71 and a beta of 0.61.

CTS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, March 28th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.35%. CTS’s dividend payout ratio is currently 8.33%.

Analyst Ratings Changes

A number of analysts have commented on the company. TD Cowen upped their price target on 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 target price for the company. in a report on Wednesday, February 7th.

Insiders Place Their Bets

In other news, CFO Ashish Agrawal sold 4,504 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $47.10, for a total value of $212,138.40. Following the transaction, the chief financial officer now directly owns 128,777 shares in the company, valued at $6,065,396.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Kieran M. O’sullivan sold 2,064 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total transaction of $97,008.00. Following the completion of the transaction, the chief executive officer now owns 499,498 shares in the company, valued at $23,476,406. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ashish Agrawal sold 4,504 shares of CTS stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $47.10, for a total transaction of $212,138.40. Following the completion of the sale, the chief financial officer now owns 128,777 shares in the company, valued at $6,065,396.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,419 shares of company stock worth $1,056,090. Corporate insiders own 2.30% of the company’s stock.

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.