CTS (CTS) Set to Announce Quarterly Earnings on Wednesday

CTS (NYSE:CTS) is scheduled to 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 are interested in participating in the company’s earnings conference call can do so using this link.

CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, February 6th. The electronics maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. CTS had a return on equity of 13.41% and a net margin of 11.00%. The company had revenue of $124.69 million during the quarter, compared to the consensus estimate of $124.51 million. During the same quarter in the prior year, the firm posted $0.56 EPS. The firm’s revenue for the quarter 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 Stock Up 1.1 %

CTS opened at $46.16 on Monday. CTS has a 1-year low of $35.50 and a 1-year high of $47.90. The stock’s fifty day simple moving average is $45.09 and its 200 day simple moving average is $42.55. The company has a current ratio of 3.29, a quick ratio of 2.67 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.42 billion, a PE ratio of 24.04 and a beta of 0.61.

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 paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Wednesday, March 27th. CTS’s dividend payout ratio (DPR) is presently 8.33%.

Insider Activity at CTS

In other CTS news, CEO Kieran M. O’sullivan sold 14,976 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $47.13, for a total transaction of $705,818.88. Following the transaction, the chief executive officer now owns 501,637 shares in the company, valued at approximately $23,642,151.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other CTS news, CFO Ashish Agrawal sold 800 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total transaction of $37,600.00. Following the transaction, the chief financial officer now owns 127,977 shares in the company, valued at approximately $6,014,919. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kieran M. O’sullivan sold 14,976 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $47.13, for a total value of $705,818.88. Following the transaction, the chief executive officer now owns 501,637 shares in the company, valued at approximately $23,642,151.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,419 shares of company stock worth $1,056,090. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CTS shares. TD Cowen increased their price target on CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Sidoti cut CTS from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research note 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.