CTS (NYSE:CTS) Releases FY 2024 Earnings Guidance

CTS (NYSE:CTS - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.050-2.250 for the period, compared to the consensus earnings per share estimate of 2.210. The company issued revenue guidance of $515.0 million-$525.0 million, compared to the consensus revenue estimate of $526.6 million. CTS also updated its FY24 guidance to $2.05-2.25 EPS.

CTS Trading Up 2.4 %

Shares of CTS traded up $1.15 during mid-day trading on Tuesday, hitting $49.69. The company had a trading volume of 222,574 shares, compared to its average volume of 148,618. The business's 50-day simple moving average is $47.72 and its 200-day simple moving average is $49.11. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. CTS has a 1-year low of $35.50 and a 1-year high of $55.47. The stock has a market cap of $1.53 billion, a PE ratio of 28.55 and a beta of 0.57.

CTS (NYSE:CTS - Get Free Report) last released its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. CTS had a net margin of 10.70% and a return on equity of 11.98%. The business had revenue of $130.16 million for the quarter, compared to analysts' expectations of $133.33 million. During the same period last year, the company earned $0.59 earnings per share. The company's quarterly revenue was down 10.3% on a year-over-year basis. Sell-side analysts forecast that CTS will post 2.15 earnings per share for the current year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, September 27th were given a $0.04 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.32%. CTS's dividend payout ratio is presently 9.41%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CTS shares. Scotiabank cut shares of CTS from a "strong-buy" rating to a "hold" rating in a research report on Friday. StockNews.com raised shares of CTS from a "hold" rating to a "buy" rating in a research report on Thursday, October 10th.

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.