CTS (NYSE:CTS) Posts Earnings Results, Beats Estimates By $0.12 EPS

CTS (NYSE:CTS) announced its quarterly earnings data on Tuesday. The electronics maker reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.12, FiscalAI reports. CTS had a return on equity of 13.48% and a net margin of 12.37%. The company had revenue of $149.58 million during the quarter, compared to the consensus estimate of $145.95 million.

CTS Trading Up 4.5%

Shares of NYSE:CTS opened at $56.37 on Tuesday. The company has a 50-day simple moving average of $57.67 and a 200 day simple moving average of $56.92. CTS has a 52-week low of $36.21 and a 52-week high of $69.55. The company has a market capitalization of $1.61 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.07 and a current ratio of 2.61.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, September 25th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, September 25th. CTS’s dividend payout ratio is presently 6.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Zacks Research lowered CTS from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Wall Street Zen upgraded shares of CTS from a “hold” rating to a “buy” rating in a research report on Sunday, September 27th. Lake Street Capital initiated coverage on shares of CTS in a research report on Wednesday, September 2nd. They set a “buy” rating and a $67.00 target price on the stock. Weiss Ratings raised CTS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Barrington Research initiated coverage on shares of CTS in a research note on Thursday, September 10th. They issued an “outperform” rating and a $80.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.50.

CTS Company Profile

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.