Lear Corporation (LEA) to Issue Quarterly Dividend of $0.77 on June 23rd

Lear Corporation (NYSE:LEA) announced a quarterly dividend on Thursday, May 14th. Stockholders of record on Wednesday, June 3rd will be paid a dividend of 0.77 per share by the auto parts company on Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, June 3rd.

Lear has increased its dividend by an average of 0.2%annually over the last three years. Lear has a dividend payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lear to earn $17.06 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 18.1%.

Lear Trading Up 0.1%

Shares of Lear stock opened at $143.24 on Monday. The stock has a fifty day simple moving average of $128.14 and a 200 day simple moving average of $122.55. Lear has a 12-month low of $86.14 and a 12-month high of $149.16. The company has a market capitalization of $7.18 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 0.73 and a beta of 1.23. The company has a current ratio of 1.33, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Lear (NYSE:LEA) last announced its quarterly earnings results on Friday, May 1st. The auto parts company reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.36. Lear had a return on equity of 13.69% and a net margin of 2.25%.The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the company posted $3.12 earnings per share. Lear’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Lear will post 14.61 earnings per share for the current fiscal year.

Key Headlines Impacting Lear

Here are the key news stories impacting Lear this week:

• Positive Sentiment: TD Cowen upgraded Lear, which can boost investor sentiment by signaling improved expectations for the auto supplier’s earnings outlook and valuation. TD Cowen upgrades Lear (LEA)
• Positive Sentiment: Zacks highlighted Lear as a top long-term value stock, reinforcing the investment case for LEA as a relatively inexpensive stock with potential upside. Why Lear (LEA) is a Top Value Stock for the Long-Term
• Neutral Sentiment: Lear announced it will participate in Wells Fargo’s 16th Annual Industrials & Materials Conference on June 10, which keeps the company visible to investors but is not a material operating update. Lear to Participate in Wells Fargo’s 16th Annual Industrials & Materials Conference

Lear Company Profile

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.