CTS (NYSE:CTS) to Buyback $100.00 million in Outstanding Stock

CTS (NYSE:CTS) declared that its Board of Directors has approved a share repurchase plan on Friday, November 7th, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization allows the electronics maker to reacquire up to 8.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

CTS Stock Performance

CTS stock traded down $0.40 during midday trading on Friday, reaching $40.61. 252,534 shares of the stock traded hands, compared to its average volume of 188,314. CTS has a fifty-two week low of $34.02 and a fifty-two week high of $59.68. The company has a current ratio of 2.64, a quick ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 1.15 and a beta of 0.94. The firm has a fifty day moving average price of $40.81 and a two-hundred day moving average price of $41.16.

CTS (NYSE:CTS) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The business had revenue of $142.97 million during the quarter, compared to the consensus estimate of $136.40 million. CTS had a return on equity of 11.92% and a net margin of 11.14%. CTS has set its FY 2025 guidance at 2.200-2.250 EPS. On average, equities research analysts forecast that CTS will post 2.28 earnings per share for the current year.

CTS Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, September 26th were given a dividend of $0.04 per share. The ex-dividend date was Friday, September 26th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. CTS’s dividend payout ratio (DPR) is 8.12%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CTS shares. Wall Street Zen lowered shares of CTS from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CTS in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

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.