Lear Receives Consensus Rating of “Buy” from Brokerages (NYSE:LEA)
Lear (NYSE:LEA) has earned an average rating of “Buy” from the thirteen brokerages that are presently covering the company, Analyst Ratings Network reports. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $105.42.
LEA has been the subject of a number of recent research reports. 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. Separately, 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.
Lear (NYSE:LEA) traded down 0.63% during mid-day trading on Friday, hitting $97.38. 63,464 shares of the company’s stock traded hands. Lear has a one year low of $68.26 and a one year high of $100.58. The stock has a 50-day moving average of $94.11 and a 200-day moving average of $85.89. The company has a market cap of $7.812 billion and a P/E ratio of 17.69.
Lear (NYSE:LEA) last posted its quarterly earnings results on Friday, July 25th. The company reported $2.12 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.62 earnings per share. Lear’s revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that Lear will post $7.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 24th. Investors of record on Friday, September 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Wednesday, September 3rd.
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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