CTS (NYSE:CTS – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 2.050-2.250 for the period, compared to the consensus EPS estimate of 2.210. The company issued revenue guidance of $515.0 million-$525.0 million, compared to the consensus revenue estimate of $526.6 million. CTS also updated its FY24 guidance to $2.05-2.25 EPS.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Scotiabank cut CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. StockNews.com raised shares of CTS from a “hold” rating to a “buy” rating in a research report on Thursday, October 10th.
Check Out Our Latest Stock Analysis on CTS
CTS Price Performance
CTS (NYSE:CTS – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $130.16 million for the quarter, compared to analyst estimates of $133.33 million. CTS had a net margin of 10.70% and a return on equity of 11.98%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 EPS. As a group, equities research analysts expect that CTS will post 2.15 earnings per share for the current fiscal year.
CTS Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Friday, September 27th. CTS’s payout ratio is currently 9.41%.
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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