CTS (NYSE:CTS) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• CTS exceeded quarterly expectations, reporting earnings of $0.77 per share versus the $0.65 consensus estimate. Revenue reached $149.58 million, also ahead of analysts’ $145.95 million forecast.
• The company announced a quarterly dividend of $0.04 per share, equivalent to an annualized $0.16 payout and a 0.3% yield.
• Analyst sentiment is generally positive: CTS has an average “Moderate Buy” rating and a consensus price target of $73.50, compared with its $53.92 opening price.

CTS (NYSE:CTS - Get Free Report) issued its quarterly earnings results on Tuesday. The electronics maker reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.12, FiscalAI reports. The firm had revenue of $149.58 million during the quarter, compared to the consensus estimate of $145.95 million. CTS had a return on equity of 13.48% and a net margin of 12.37%.

CTS Price Performance

CTS stock opened at $53.92 on Tuesday. CTS has a one year low of $36.21 and a one year high of $69.55. The business has a fifty day moving average price of $57.67 and a 200-day moving average price of $56.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.61 and a quick ratio of 2.07. The firm has a market capitalization of $1.54 billion, a P/E ratio of 22.66, a PEG ratio of 1.25 and a beta of 0.99.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, September 25th were given a dividend of $0.04 per share. The ex-dividend date was Friday, September 25th. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. CTS's dividend payout ratio is currently 6.72%.

Wall Street Analysts Forecast Growth

CTS has been the subject of several recent analyst reports. Wall Street Zen raised shares of CTS from a "hold" rating to a "buy" rating in a research report on Sunday, September 27th. Barrington Research assumed coverage on CTS in a research note on Thursday, September 10th. They issued an "outperform" rating and a $80.00 price objective for the company. Lake Street Capital started coverage on shares of CTS in a research report on Wednesday, September 2nd. They set a "buy" rating and a $67.00 price target on the stock. Zacks Research cut CTS from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Finally, Weiss Ratings upgraded shares of CTS from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, CTS presently has an average rating of "Moderate Buy" and a consensus target price of $73.50.

About CTS

CTS Corporation NYSE: CTS is a designer and manufacturer of sensors, actuators, and electronic components for original equipment manufacturers and industrial customers. The company develops custom-engineered solutions that help measure, control, and manage electrical and mechanical functions in a range of products and systems.

Its offerings include position, pressure, temperature, and motion sensors; piezoelectric and electronic components; switches, controls, and actuators; and other sensing and mechatronic products.

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