Electronic components manufacturer CTS Corporation (NYSE: CTS) will be reporting results this Tuesday before market hours. Here’s what you need to know.
CTS beat analysts’ revenue expectations by 2% last quarter, reporting revenues of $135.3 million, up 4% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ full-year EPS guidance estimates and a solid beat of analysts’ revenue estimates.
Is CTS a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting CTS’s revenue to grow 3% year on year to $136.4 million, a reversal from the 1.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.61 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CTS has only missed Wall Street’s revenue estimates once since going public and has exceeded top-line expectations by -0.1% on average.
Looking at CTS’s peers in the electronic components & manufacturing segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Amphenol delivered year-on-year revenue growth of 53.4%, beating analysts’ expectations by 10.9%, and Jabil reported revenues up 18.5%, topping estimates by 9.5%. Amphenol traded up 8.8% following the results while Jabil was down 4.2%.
Read our full analysis of Amphenol’s results here and Jabil’s results here.
Investors in the electronic components & manufacturing segment have had steady hands going into earnings, with share prices flat over the last month. CTS is up 8.7% during the same time and is heading into earnings with an average analyst price target of $43 (compared to the current share price of $42.16).
When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we’ve found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
