CTS (CTS) Scheduled to Post Earnings on Wednesday

CTS (NYSE:CTS) will release its earnings data 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.Persons that wish to listen to the company’s earnings conference call can do so using this link.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. CTS had a net margin of 11.00% and a return on equity of 13.41%. The company had revenue of $124.69 million for the quarter, compared to analyst estimates of $124.51 million. During the same quarter in the prior year, the business posted $0.56 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. 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 1.8 %

CTS opened at $47.00 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.29 and a quick ratio of 2.67. CTS has a fifty-two week low of $35.50 and a fifty-two week high of $47.90. The firm has a market capitalization of $1.44 billion, a PE ratio of 24.48 and a beta of 0.61. The company’s 50-day moving average is $45.11 and its 200 day moving average is $42.60.

CTS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Thursday, March 28th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%. CTS’s dividend payout ratio is presently 8.33%.

Insider Activity

In other news, CEO Kieran M. O’sullivan sold 14,976 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $47.13, for a total transaction of $705,818.88. Following the completion of the transaction, the chief executive officer now directly owns 501,637 shares of the company’s stock, valued at approximately $23,642,151.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ashish Agrawal sold 4,504 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $47.10, for a total transaction of $212,138.40. Following the completion of the transaction, the chief financial officer now directly owns 128,777 shares of the company’s stock, valued at approximately $6,065,396.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kieran M. O’sullivan sold 14,976 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $47.13, for a total transaction of $705,818.88. Following the transaction, the chief executive officer now directly owns 501,637 shares of the company’s stock, valued at $23,642,151.81. The disclosure for this sale can be found here. Insiders sold 22,419 shares of company stock valued at $1,056,090 in the last three months. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTS. Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Wednesday, February 7th. TD Cowen upped their price objective on shares of CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th.

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.