A number of other research analysts also recently issued reports on LEA. Citigroup dropped their target price on shares of Lear from $144.00 to $135.00 and set a neutral rating on the stock in a research report on Tuesday, July 30th. Robert W. Baird downgraded shares of Lear from an outperform rating to a neutral rating and set a $155.00 target price on the stock. in a research report on Friday, October 25th. Buckingham Research dropped their target price on shares of Lear from $140.00 to $105.00 and set a neutral rating on the stock in a research report on Wednesday, October 16th. Credit Suisse Group dropped their target price on shares of Lear from $155.00 to $130.00 and set a neutral rating on the stock in a research report on Monday, July 29th. Finally, Guggenheim started coverage on shares of Lear in a research report on Tuesday, October 15th. They set a neutral rating on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. Lear presently has an average rating of Hold and a consensus price target of $151.07.
Shares of Lear stock traded up $0.83 during trading on Wednesday, reaching $117.67. 490,585 shares of the company traded hands, compared to its average volume of 631,367. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.35 and a quick ratio of 1.08. Lear has a 1-year low of $105.10 and a 1-year high of $160.00. The company has a 50 day moving average price of $119.86 and a 200-day moving average price of $124.92. The firm has a market capitalization of $7.07 billion, a PE ratio of 6.46, a P/E/G ratio of 3.58 and a beta of 1.46.
Lear (NYSE:LEA) last released its earnings results on Friday, October 25th. The auto parts company reported $3.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.14 by $0.40. Lear had a net margin of 4.21% and a return on equity of 22.07%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the previous year, the company earned $4.09 EPS. Lear’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts expect that Lear will post 13.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.00 annualized dividend and a yield of 2.55%. Lear’s payout ratio is 16.47%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oakworth Capital Inc. acquired a new position in Lear during the second quarter worth $26,000. Massey Quick Simon & CO. LLC acquired a new position in Lear during the third quarter worth $47,000. Usca Ria LLC acquired a new position in Lear during the third quarter worth $47,000. NEXT Financial Group Inc raised its holdings in Lear by 64.8% during the second quarter. NEXT Financial Group Inc now owns 422 shares of the auto parts company’s stock worth $59,000 after buying an additional 166 shares during the last quarter. Finally, Clear Perspective Advisors LLC acquired a new position in Lear during the second quarter worth $75,000. Hedge funds and other institutional investors own 88.93% of the company’s stock.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.
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