Lear Co. (LEA) Declares Quarterly Dividend of $0.20
Lear (NYSE:LEA) declared a quarterly dividend on Thursday, August 14th, American Banking and Market News reports. Shareholders of record on Friday, September 5th will be given a dividend of 0.20 per share on Wednesday, September 24th. This represents a $0.80 dividend on an annualized basis and a yield of 0.83%.
Several analysts have recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of Lear in a research note on Wednesday. They set an “outperform” rating and a $114.00 price target on the stock. On the ratings front, analysts at Morgan Stanley raised their price target on shares of Lear from $90.00 to $98.00 in a research note on Monday. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Lear in a research note on Monday, July 28th. They now have a $117.00 price target on the stock, up previously from $101.00. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $105.42.
Lear (NYSE:LEA) opened at 96.12 on Thursday. Lear has a 52 week low of $68.26 and a 52 week high of $100.58. The stock’s 50-day moving average is $93.84 and its 200-day moving average is $85.81. The company has a market cap of $7.711 billion and a price-to-earnings ratio of 17.36.
Lear (NYSE:LEA) last released its earnings data on Friday, July 25th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.16. The company had revenue of $4.59 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts expect that Lear will post $7.95 EPS 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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