CTS (NYSE:CTS) Issues FY 2024 Earnings Guidance

CTS (NYSE:CTS) updated its FY 2024 earnings guidance on Tuesday. 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 Analysts Forecast Growth

Several brokerages recently issued reports on CTS. StockNews.com raised CTS from a “hold” rating to a “buy” rating in a research note on Thursday, October 10th. Scotiabank downgraded CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

CTS Stock Down 2.5 %

Shares of CTS traded down $1.26 during mid-day trading on Thursday, hitting $49.52. 199,774 shares of the company traded hands, compared to its average volume of 149,168. The business has a 50 day moving average of $47.81 and a 200 day moving average of $49.15. The company has a market capitalization of $1.52 billion, a PE ratio of 29.86 and a beta of 0.57. 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 has a 1-year low of $35.50 and a 1-year high of $55.47.

CTS (NYSE:CTS) last posted its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. CTS had a net margin of 10.70% and a return on equity of 11.98%. The business had revenue of $132.42 million during the quarter. During the same period in the prior year, the business posted $0.54 EPS. Equities research analysts anticipate that CTS will post 2.15 EPS for the current year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.32%. The ex-dividend date was Friday, September 27th. CTS’s payout ratio is 9.41%.

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.