CTS (CTS) Scheduled to Post Earnings on Wednesday

CTS (NYSE:CTS) is scheduled to be posting 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.Individual that are interested in registering for the company’s earnings 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 for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $124.69 million during the quarter, compared to the consensus estimate of $124.51 million. CTS had a return on equity of 13.41% and a net margin of 11.00%. The business’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 EPS. 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. 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 company has a market cap of $1.40 billion, a price-to-earnings ratio of 23.71 and a beta of 0.61. The stock has a 50 day simple moving average of $45.06 and a 200-day simple moving average of $42.47. CTS has a 1-year low of $35.50 and a 1-year high of $47.90.

CTS Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Sidoti downgraded CTS from a “buy” rating to a “neutral” rating and set a $46.00 target price for the company. in a research note on Wednesday, February 7th. TD Cowen boosted 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.

Insider Buying and Selling

In related news, CFO Ashish Agrawal sold 4,504 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was 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 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 can be accessed through the SEC website. In other CTS news, CEO Kieran M. O’sullivan sold 14,976 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $47.13, for a total value of $705,818.88. Following the completion of the sale, the chief executive officer now directly owns 501,637 shares in the company, valued at approximately $23,642,151.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ashish Agrawal sold 4,504 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $47.10, for a total value of $212,138.40. Following the completion of the sale, the chief financial officer now owns 128,777 shares of the company’s stock, valued at $6,065,396.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,419 shares of company stock worth $1,056,090. 2.30% of the stock is owned by corporate insiders.

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.