CTS Co. (NYSE:CTS) – Analysts at Zacks Investment Research raised their Q3 2018 earnings estimates for CTS in a research note issued to investors on Tuesday. Zacks Investment Research analyst I. Gilson now forecasts that the electronics maker will earn $0.34 per share for the quarter, up from their previous estimate of $0.33. Zacks Investment Research also issued estimates for CTS’s Q1 2019 earnings at $0.33 EPS.
Separately, ValuEngine downgraded CTS from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th.
CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, February 6th. The electronics maker reported $0.39 EPS for the quarter, topping the consensus estimate of $0.30 by $0.09. CTS had a return on equity of 12.16% and a net margin of 3.42%. The company had revenue of $110.90 million during the quarter, compared to the consensus estimate of $106.82 million. During the same period last year, the company earned $0.29 EPS. CTS’s revenue for the quarter was up 9.2% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Friday, March 16th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.62%. CTS’s dividend payout ratio is currently 37.21%.
Several institutional investors have recently added to or reduced their stakes in CTS. Arizona State Retirement System grew its stake in shares of CTS by 224.7% during the 4th quarter. Arizona State Retirement System now owns 55,359 shares of the electronics maker’s stock valued at $1,425,000 after purchasing an additional 38,312 shares during the period. Bessemer Group Inc. bought a new position in CTS in the 4th quarter valued at $533,000. SG Americas Securities LLC bought a new position in CTS in the 3rd quarter valued at $387,000. Wedge Capital Management L L P NC grew its position in CTS by 35.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 60,150 shares of the electronics maker’s stock valued at $1,450,000 after acquiring an additional 15,800 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in CTS by 26.1% in the 4th quarter. Wells Fargo & Company MN now owns 73,080 shares of the electronics maker’s stock valued at $1,882,000 after acquiring an additional 15,119 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.
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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