Why CTS Corporation Shares Jumped 13.3% Today
Shares of industrial supplier CTS Corporation (NYSE: CTS) jumped as much as 13.3% in trading on Tuesday after the company reported fourth-quarter 2023 financial results. Shares are still up 10.2% as of 2 p.m. ET.
CTS isn't blowing the doors off the industry, but it's at least performing better than expected. Revenue was down 12% in the quarter to $125 million and net income was flat at $15 million, or $0.49 per share.
Analysts were expecting revenue of $124.5 million and earnings of just $0.46 per share, so clearing that bar was enough for investors today.
Source Fool.com
CTS Corp. Stock
€44.00
0.920%
The community is currently still undecided about CTS Corp. with 1 Buy predictions and 0 Sell predictions.
On the other hand, the target price of 41 € is below the current price of 44.0 € for CTS Corp., so the potential is actually -6.82%.
