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

CTS

01/05/2024 15:13

* CTS Corp  CTS.N  reported quarterly adjusted earnings of
47
cents​​ per share for the quarter ended in March, lower than the
same quarter last year, when the company reported EPS of 61
cents.  The mean expectation of three analysts for the quarter
was for earnings of 41 cents per share. Wall Street expected
results to range from 39 cents to 43 cents per share.
    * Revenue fell 13.9% to $125.75 million from a year ago;
analysts
expected $126.75 million. 
    * CTS Corp's reported EPS for the quarter was 36 cents​.
    * The company reported quarterly net income of $11.12
million.
    * CTS Corp shares had fallen by 2.2% this quarter and
gained 4.6%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 20.4%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 3
"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
$46.00 
This summary was machine generated from LSEG data May 1 at 02:13
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
 Mar. 31 2024      0.41           0.47           Beat
 Dec. 31 2023      0.46           0.47           Beat
 Sep. 30 2023      0.56           0.54           Missed
 Jun. 30 2023      0.53           0.59           Beat