Lear Corp. Given Buy Rating at Deutsche Bank (LEA)
Lear Corp. (NYSE:LEA)‘s stock had its “buy” rating reiterated by investment analysts at Deutsche Bank in a note issued to investors on Monday, AnalystRatingsNetwork.com reports. They currently have a $76.00 price target on the stock. Deutsche Bank’s price objective would indicate a potential upside of 7.13% from the stock’s previous close.
Lear Corp. (NYSE:LEA) traded up 1.03% during mid-day trading on Monday, hitting $70.94. 799,970 shares of the company’s stock traded hands. Lear Corp. has a one year low of $37.17 and a one year high of $73.32. The stock’s 50-day moving average is $70.35 and its 200-day moving average is $61.21. The company has a market cap of $5.721 billion and a price-to-earnings ratio of 5.31.
Lear Corp. (NYSE:LEA) last issued its quarterly earnings data on Friday, July 26th. The company reported $1.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.34 by $0.28. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter last year, the company posted $1.35 earnings per share. Lear Corp.’s revenue was up 12.2% compared to the same quarter last year. Analysts expect that Lear Corp. will post $5.67 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on LEA. Analysts at Guggenheim raised their price target on shares of Lear Corp. (NYSE:LEA) from $60.00 to $82.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley reiterated a “buy” rating on shares of Lear Corp. (NYSE:LEA) in a research note to investors on Friday, September 6th. They now have a $66.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Lear Corp. (NYSE:LEA) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, August 14th. They now have a $76.00 price target on the stock.
Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $72.42.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 25th. Investors of record on Friday, September 6th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, September 4th.
Lear Corporation is a tier 1 supplier to the global automotive industry. The Company supplies its products to automotive manufacturers with automotive seat systems and related components, as well as electrical distribution systems and related components.
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