Lear Sets New 12-Month High at $91.86 (LEA)
Lear (NYSE:LEA) shares hit a new 52-week high during trading on Friday , Stock Ratings News reports. The company traded as high as $91.86 and last traded at $91.80, with a volume of 181,594 shares trading hands. The stock had previously closed at $90.32.
A number of analysts have recently weighed in on LEA shares. 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 investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $95.15.
The stock has a 50-day moving average of $85.41 and a 200-day moving average of $81.73. The company has a market cap of $7.424 billion and a price-to-earnings ratio of 16.89.
Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, April 25th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter 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 0.88%. The ex-dividend date is Wednesday, June 4th.
In other Lear news, Director Richard Harold Bott purchased 1,000 shares of the company’s stock on the open market in a transaction dated Friday, May 23rd. The stock was purchased at an average cost of $86.88 per share, with a total value of $86,880.00. Following the purchase, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $217,200. The purchase was disclosed in a legal filing with the SEC, 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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