CTS (NYSE:CTS) Updates FY24 Earnings Guidance

CTS (NYSE:CTS) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.05-2.25 for the period, compared to the consensus earnings per share estimate of $2.10. The company issued revenue guidance of $515-525 million, compared to the consensus revenue estimate of $526.60 million.

CTS Stock Performance

Shares of NYSE:CTS opened at $48.54 on Tuesday. CTS has a 52 week low of $35.50 and a 52 week high of $55.47. The stock has a market capitalization of $1.49 billion, a P/E ratio of 28.55 and a beta of 0.57. The firm has a fifty day simple moving average of $47.72 and a two-hundred day simple moving average of $49.11. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12.

CTS (NYSE:CTS) last issued its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. CTS had a net margin of 10.70% and a return on equity of 11.98%. The business had revenue of $130.16 million during the quarter, compared to analysts’ expectations of $133.33 million. During the same period last year, the company posted $0.59 EPS. The business’s revenue was down 10.3% on a year-over-year basis. On average, analysts expect that CTS will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were paid a dividend of $0.04 per share. The ex-dividend date was Friday, September 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.33%. CTS’s dividend payout ratio is presently 9.41%.

Analyst Ratings Changes

A number of equities analysts recently commented on CTS shares. StockNews.com raised shares of CTS from a “hold” rating to a “buy” rating in a research note on Thursday, October 10th. Scotiabank cut shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday.

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.