CTS Corp reports results for the quarter ended in June - Earnings Summary

CTS

30/07/2024 14:51

* CTS Corp  CTS.N  reported quarterly adjusted earnings of
54
cents​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of 59
cents.  The mean expectation of two analysts for the quarter was
for earnings of 53 cents per share. Wall Street expected
results to range from 52 cents to 53 cents per share.
    * Revenue fell 10.3% to $130.16 million from a year ago;
analysts
expected $133.38 million. 
    * CTS Corp's reported EPS for the quarter was 48 cents​.
    * The company reported quarterly net income of $14.71
million.
    * CTS Corp shares had risen by 2.1% this quarter and
gained 18.2%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2% in
the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electronic
equipment & parts peer group is also "hold"

Wall Street's median 12-month price target for CTS Corp is
$48.00 
This summary was machine generated from LSEG data July 30 at
01:51 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.53           0.54           Beat
 Mar. 31 2024      0.43           0.47           Beat
 Dec. 31 2023      0.46           0.47           Beat
 Sep. 30 2023                     0.54