Lear Hits New 52-Week High at $89.73 (LEA)
Lear (NYSE:LEA) hit a new 52-week high during mid-day trading on Tuesday , AR Network reports. The company traded as high as $89.73 and last traded at $89.72, with a volume of 476,880 shares changing hands. The stock had previously closed at $87.89.
A number of research firms have recently commented on LEA. Analysts at Deutsche Bank upgraded shares of Lear from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th. They now have a $100.00 price target on the stock, up previously from $95.00. Separately, analysts at Buckingham Research raised their price target on shares of Lear from $92.00 to $105.00 in a research note on Monday, April 28th. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Lear from $91.00 to $94.00 in a research note on Monday, April 28th. They now have a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $94.45.
The stock has a 50-day moving average of $83.70 and a 200-day moving average of $81.1. The company has a market cap of $7.254 billion and a P/E ratio of 16.44.
Lear (NYSE:LEA) last released its earnings data on Friday, April 25th. The company reported $1.84 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.70 by $0.14. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. Analysts expect that Lear will post $7.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 25th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, June 4th.
In other Lear news, Director Richard Harold Bott acquired 1,000 shares of the stock in a transaction dated Friday, May 23rd. The stock was purchased at an average price of $86.88 per share, with a total value of $86,880.00. Following the transaction, the director now directly owns 2,500 shares in the company, valued at approximately $217,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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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