Lear Hits New 1-Year High at $101.50 (LEA)
Lear (NYSE:LEA) hit a new 52-week high during trading on Thursday , Analyst Ratings News reports. The company traded as high as $101.50 and last traded at $101.16, with a volume of 496,315 shares changing hands. The stock had previously closed at $98.11.
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, August 13th. 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, August 11th. 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 analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $105.42.
The stock’s 50-day moving average is $95.98 and its 200-day moving average is $87.51. The company has a market cap of $8.148 billion and a price-to-earnings ratio of 17.71.
Lear (NYSE:LEA) last issued its quarterly 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. On average, analysts predict that Lear will post $7.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 24th. Stockholders 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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