CTS Co. to Issue Quarterly Dividend of $0.04 (NYSE:CTS)

CTS Co. (NYSE:CTS) declared a quarterly dividend on Thursday, August 15th, Zacks reports. Stockholders of record on Friday, September 27th will be given a dividend of 0.04 per share by the electronics maker on Friday, October 25th. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Friday, September 27th.

CTS has a payout ratio of 6.7% indicating that its dividend is sufficiently covered by earnings.

CTS Trading Down 1.7 %

Shares of CTS stock opened at $47.22 on Thursday. The stock has a 50 day simple moving average of $48.01 and a two-hundred day simple moving average of $48.65. The company has a market cap of $1.43 billion, a P/E ratio of 27.78 and a beta of 0.58. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.85 and a current ratio of 3.41. CTS has a fifty-two week low of $35.50 and a fifty-two week high of $55.47.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $130.16 million for the quarter, compared to analysts’ expectations of $133.33 million. CTS had a return on equity of 11.98% and a net margin of 10.70%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. Research analysts forecast that CTS will post 2.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CTS from a “buy” rating to a “hold” rating in a research report on Monday, September 16th.

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.