CTS Corp. (NYSE:CTS) has been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Brokers have set a 1-year consensus price objective of $25.00 for the company and are expecting that the company will post $0.15 earnings per share for the current quarter, according to Zacks. Zacks has also assigned CTS Corp. an industry rank of 81 out of 265 based on the ratings given to related companies.
Separately, TheStreet raised shares of CTS Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, June 9th.
Shares of CTS Corp. (NYSE:CTS) traded down 0.70% during midday trading on Tuesday, reaching $18.31. 8,648 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $18.94 and a 200 day moving average price of $17.79. The firm has a market cap of $599.80 million, a PE ratio of 153.87 and a beta of 1.31. CTS Corp. has a 12 month low of $12.87 and a 12 month high of $20.25.
CTS Corp. (NYSE:CTS) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. CTS Corp. had a return on equity of 10.71% and a net margin of 1.04%. The firm earned $98.70 million during the quarter, compared to the consensus estimate of $106.34 million. During the same period in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts predict that CTS Corp. will post $1.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 23rd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, September 21st. CTS Corp.’s dividend payout ratio is currently 145.45%.
In other news, CFO Ashish Agrawal sold 2,250 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $19.25, for a total transaction of $43,312.50. Following the completion of the transaction, the chief financial officer now directly owns 71,867 shares of the company’s stock, valued at approximately $1,383,439.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.66% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chartwell Investment Partners LLC bought a new position in CTS Corp. during the second quarter worth $13,853,000. Heartland Advisors Inc. increased its position in CTS Corp. by 459.8% in the second quarter. Heartland Advisors Inc. now owns 279,890 shares of the company’s stock valued at $5,016,000 after buying an additional 229,890 shares during the period. Emerald Acquisition Ltd. acquired a new position in CTS Corp. during the second quarter valued at approximately $2,807,000. Swiss National Bank increased its position in CTS Corp. by 5.1% in the second quarter. Swiss National Bank now owns 51,200 shares of the company’s stock valued at $918,000 after buying an additional 2,500 shares during the period. Finally, Strs Ohio increased its position in CTS Corp. by 8.4% in the second quarter. Strs Ohio now owns 28,300 shares of the company’s stock valued at $507,000 after buying an additional 2,200 shares during the period. 91.79% of the stock is owned by hedge funds and other institutional investors.
CTS Corp. Company Profile
CTS Corporation (CTS) is a global manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the automotive, communications, defense and aerospace, medical, industrial and computer markets.
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