CTS (CTS) Scheduled to Post Earnings on Wednesday

CTS (NYSE:CTS) will 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.Investors that are interested in registering for the company’s conference call can do so using this link.

CTS (NYSE:CTS) last posted its quarterly earnings results on Tuesday, February 6th. The electronics maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. CTS had a return on equity of 13.41% and a net margin of 11.00%. The business had revenue of $124.69 million during the quarter, compared to analysts’ expectations of $124.51 million. During the same quarter last year, the company posted $0.56 earnings per share. CTS’s quarterly revenue was down 12.4% on a year-over-year basis. 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 stock opened at $47.00 on Tuesday. CTS has a 52 week low of $35.50 and a 52 week high of $47.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.67 and a current ratio of 3.29. The stock has a market capitalization of $1.44 billion, a P/E ratio of 24.48 and a beta of 0.61. The stock has a 50-day simple moving average of $45.11 and a 200 day simple moving average of $42.60.

CTS Dividend Announcement

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

Insiders Place Their Bets

In other CTS news, CFO Ashish Agrawal sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total transaction of $37,600.00. Following the completion of the sale, the chief financial officer now directly owns 127,977 shares in the company, valued at $6,014,919. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Kieran M. O’sullivan sold 14,976 shares of CTS stock in a transaction that occurred on Thursday, March 28th. The shares were 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 $23,642,151.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ashish Agrawal sold 800 shares of CTS stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total transaction of $37,600.00. Following the completion of the sale, the chief financial officer now owns 127,977 shares of the company’s stock, valued at $6,014,919. The disclosure for this sale can be found here. Insiders sold 22,419 shares of company stock worth $1,056,090 over the last three months. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CTS shares. TD Cowen lifted their price target on CTS from $38.00 to $46.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. 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.

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.