Lear Corp. Declares Quarterly Dividend of $0.20 (LEA)
Lear Corp. (NYSE:LEA) announced a quarterly dividend on Friday, February 7th, AmericanBankingNews.com reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.20 per share on Thursday, March 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.09%.
LEA has been the subject of a number of recent research reports. Analysts at CRT Capital downgraded shares of Lear Corp. from a “buy” rating to a “fair value” rating in a research note to investors on Monday. On the ratings front, analysts at Goldman Sachs Group Inc. raised their price target on shares of Lear Corp. from $90.00 to $95.00 in a research note to investors on Thursday, January 9th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Lear Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, December 17th. They now have a $85.80 price target on the stock. Five 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 $88.48.
Shares of Lear Corp. (NYSE:LEA) traded up 1.62% on Friday, hitting $74.915. The stock had a trading volume of 691,922 shares. Lear Corp. has a 52-week low of $50.73 and a 52-week high of $83.72. The stock has a 50-day moving average of $78. and a 200-day moving average of $75.35. The company has a market cap of $6.210 billion and a P/E ratio of 14.77.
Lear Corp. (NYSE:LEA) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.55 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.59 by $0.04. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. On average, analysts predict that Lear Corp. will post $7.45 earnings per share for the current fiscal year.
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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