CTS Corporation (NYSE:CTS) Releases Quarterly Earnings Results, Meets Estimates
CTS Corporation (NYSE:CTS) announced its quarterly earnings results on Thursday. The electronics maker reported $0.28 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28, Briefing.com reports. CTS Corporation had a net margin of 8.75% and a return on equity of 11.60%. The company had revenue of $105.70 million for the quarter, compared to analyst estimates of $103.31 million. During the same quarter in the prior year, the business posted $0.26 EPS. CTS Corporation’s quarterly revenue was up 7.1% on a year-over-year basis. CTS Corporation updated its FY17 guidance to $1.12-1.22 EPS.
Shares of CTS Corporation (NYSE:CTS) traded up 0.23% on Thursday, hitting $21.75. 22,854 shares of the stock traded hands. The firm has a market capitalization of $714.51 million, a PE ratio of 20.91 and a beta of 1.23. The firm’s 50 day moving average is $21.86 and its 200 day moving average is $21.66. CTS Corporation has a 52 week low of $16.35 and a 52 week high of $24.80.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, June 23rd will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.74%. CTS Corporation’s dividend payout ratio (DPR) is 15.24%.
Several hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. acquired a new stake in shares of CTS Corporation during the first quarter worth approximately $123,000. Bank of Montreal Can raised its stake in shares of CTS Corporation by 21.8% in the first quarter. Bank of Montreal Can now owns 6,304 shares of the electronics maker’s stock worth $134,000 after buying an additional 1,130 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of CTS Corporation by 7.5% in the first quarter. SG Americas Securities LLC now owns 6,463 shares of the electronics maker’s stock worth $138,000 after buying an additional 449 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of CTS Corporation by 554.7% in the first quarter. LS Investment Advisors LLC now owns 7,477 shares of the electronics maker’s stock worth $159,000 after buying an additional 6,335 shares in the last quarter. Finally, Mason Street Advisors LLC raised its stake in shares of CTS Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 7,661 shares of the electronics maker’s stock worth $163,000 after buying an additional 502 shares in the last quarter. 92.12% of the stock is currently owned by institutional investors and hedge funds.
Separately, HSBC Holdings plc lowered shares of CTS Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th.
CTS Corporation Company Profile
CTS Corporation is a 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 transportation, industrial, medical, information technology, defense and aerospace, and communications markets.
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