Electronic components manufacturer CTS Corporation (NYSE: CTS) will be reporting results this Tuesday before the bell. Here’s what you need to know.
CTS beat analysts’ revenue expectations last quarter, reporting revenues of $139.2 million, up 10.7% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and full-year revenue guidance slightly topping analysts’ expectations.
Is CTS a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting CTS’s revenue to grow 6% year on year, improving from the 4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. CTS has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at CTS’s peers in the tech hardware & electronics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Knowles delivered year-on-year revenue growth of 14.3%, beating analysts’ expectations by 6.3%, and Jabil reported revenues up 11.8%, topping estimates by 2.3%. Knowles traded down 3.6% following the results while Jabil’s stock price was unchanged.
Read our full analysis of Knowles’s results here and Jabil’s results here.
Investors in the tech hardware & electronics segment have had steady hands going into earnings, with share prices up 1.1% on average over the last month. CTS is down 3.6% during the same time and is heading into earnings with an average analyst price target of $58 (compared to the current share price of $61.18).
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