CTS Corporation (NYSE:CTS) Shares Set to Pay Quarterly Dividend of $0.04

CTS Corporation (NYSE:CTS) declared a quarterly dividend on Thursday, November 5th. Shareholders of record on Thursday, December 24th will be paid a dividend of $0.04 per share by the electronics maker on Friday, January 22nd. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, December 24th.

CTS has a dividend payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Analysts expect CTS to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 5.4%.

CTS Trading Down 8.2%

CTS stock opened at $56.84 on Friday. CTS has a 52 week low of $40.15 and a 52 week high of $69.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.10 and a current ratio of 2.59. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 1.38 and a beta of 0.94. The company has a 50 day moving average price of $57.96 and a 200 day moving average price of $57.55.

CTS (NYSE:CTS) last announced its quarterly earnings data on Tuesday, October 27th. The electronics maker reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.12. The firm had revenue of $149.58 million during the quarter, compared to the consensus estimate of $145.95 million. CTS had a return on equity of 14.05% and a net margin of 12.94%. Research analysts forecast that CTS will post 2.80 EPS for the current year.

Analyst Upgrades and Downgrades

CTS has been the subject of several recent research reports. Lake Street Capital began coverage on CTS in a report on Wednesday, September 2nd. They set a “buy” rating and a $67.00 price objective for the company. Barrington Research assumed coverage on CTS in a report on Thursday, September 10th. They issued an “outperform” rating and a $80.00 price target for the company. Weiss Ratings upgraded shares of CTS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen raised shares of CTS from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.50.

About CTS

CTS Corporation (NYSE: CTS) is a designer and manufacturer of sensors, actuators, and electronic components for original equipment manufacturers and industrial customers. The company develops custom-engineered solutions that help measure, control, and manage electrical and mechanical functions in a range of products and systems.

Its offerings include position, pressure, temperature, and motion sensors; piezoelectric and electronic components; switches, controls, and actuators; and other sensing and mechatronic products.