CTS (NYSE:CTS – Get Free Report) released its quarterly earnings data on Tuesday. The electronics maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01, Briefing.com reports. CTS had a net margin of 10.70% and a return on equity of 11.98%. The business had revenue of $130.16 million for the quarter, compared to analyst estimates of $133.33 million. During the same quarter last year, the firm earned $0.59 EPS. CTS’s quarterly revenue was down 10.3% compared to the same quarter last year. CTS updated its FY24 guidance to $2.05-2.25 EPS and its FY 2024 guidance to 2.050-2.250 EPS.
CTS Stock Down 0.9 %
CTS stock traded down $0.46 during mid-day trading on Thursday, hitting $48.42. 415,614 shares of the company were exchanged, compared to its average volume of 156,467. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.71 and a current ratio of 3.41. The firm has a market cap of $1.49 billion, a P/E ratio of 28.41 and a beta of 0.60. The firm’s 50 day simple moving average is $51.64 and its 200 day simple moving average is $47.71. CTS has a 1-year low of $35.50 and a 1-year high of $55.47.
CTS Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, June 28th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.16 annualized dividend and a yield of 0.33%. CTS’s dividend payout ratio (DPR) is currently 9.41%.
Insiders Place Their Bets
Analyst Ratings Changes
Separately, StockNews.com lowered shares of CTS from a “buy” rating to a “hold” rating in a research note on Wednesday.
Read 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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