A number of other equities analysts also recently weighed in on LEA. Morgan Stanley decreased their target price on shares of Lear from $185.00 to $181.00 and set an overweight rating for the company in a research note on Monday, April 15th. Longbow Research reaffirmed a buy rating and set a $190.00 target price on shares of Lear in a research note on Wednesday, May 1st. KeyCorp decreased their target price on shares of Lear from $190.00 to $185.00 and set an overweight rating for the company in a research note on Monday, April 29th. Argus began coverage on shares of Lear in a research note on Thursday, March 28th. They set a hold rating for the company. Finally, Seaport Global Securities began coverage on shares of Lear in a research note on Wednesday, February 13th. They set a buy rating and a $199.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $175.07.
LEA stock opened at $135.70 on Wednesday. Lear has a 1 year low of $114.45 and a 1 year high of $203.78. The stock has a market capitalization of $8.51 billion, a P/E ratio of 7.45, a P/E/G ratio of 3.11 and a beta of 1.41. The company has a quick ratio of 1.10, a current ratio of 1.34 and a debt-to-equity ratio of 0.44.
Lear (NYSE:LEA) last released its quarterly earnings results on Friday, April 26th. The auto parts company reported $4.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.06 by ($0.06). Lear had a return on equity of 25.28% and a net margin of 4.94%. The company had revenue of $5.16 billion during the quarter, compared to the consensus estimate of $5.25 billion. During the same period in the previous year, the company earned $5.10 earnings per share. Lear’s quarterly revenue was down 10.0% on a year-over-year basis. On average, equities analysts anticipate that Lear will post 17.59 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 7th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, June 6th. Lear’s dividend payout ratio (DPR) is currently 16.47%.
Several institutional investors and hedge funds have recently made changes to their positions in LEA. Meridian Wealth Management LLC bought a new stake in shares of Lear during the first quarter valued at approximately $28,000. Pinnacle Bank bought a new stake in shares of Lear during the fourth quarter valued at approximately $31,000. Oregon Public Employees Retirement Fund increased its position in shares of Lear by 11,007.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock valued at $40,000 after acquiring an additional 4,854,451 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Lear during the first quarter valued at approximately $46,000. Finally, Rational Advisors LLC bought a new stake in shares of Lear during the fourth quarter valued at approximately $49,000. 89.37% of the stock is owned by institutional investors.
Lear Company Profile
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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