FY2016 Earnings Estimate for Lear Corp. (LEA) Issued By Northcoast Research
Lear Corp. (NYSE:LEA) – Equities researchers at Northcoast Research raised their FY2016 earnings estimates for Lear Corp. in a report released on Wednesday. Northcoast Research analyst B. Keller now expects that the brokerage will post earnings per share of $13.29 for the year, up from their previous forecast of $13.11.
Lear Corp. (NYSE:LEA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.32 by $0.34. The firm earned $4.70 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.82 EPS.
Several other equities analysts have also issued reports on LEA. Bank of America Corp. lowered Lear Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Zacks Investment Research lowered Lear Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. JPMorgan Chase & Co. upped their target price on Lear Corp. from $129.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Barclays PLC set a $127.00 target price on Lear Corp. and gave the company a “hold” rating in a report on Monday, August 1st. Finally, Citigroup Inc. upped their target price on Lear Corp. from $145.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $128.00.
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Shares of Lear Corp. (NYSE:LEA) traded down 2.84% during trading on Thursday, reaching $115.67. The company’s stock had a trading volume of 371,228 shares. Lear Corp. has a 52-week low of $93.54 and a 52-week high of $127.00. The stock has a 50-day moving average of $117.92 and a 200-day moving average of $113.52. The stock has a market cap of $8.27 billion, a P/E ratio of 9.26 and a beta of 1.22.
Several large investors have recently modified their holdings of LEA. Advisory Services Network LLC increased its stake in shares of Lear Corp. by 164.8% in the third quarter. Advisory Services Network LLC now owns 850 shares of the company’s stock worth $103,000 after buying an additional 529 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock worth $104,000 after buying an additional 26 shares during the period. Societe Generale acquired a new stake in shares of Lear Corp. during the second quarter worth about $121,000. Assetmark Inc. increased its stake in shares of Lear Corp. by 8,535.3% in the second quarter. Assetmark Inc. now owns 1,468 shares of the company’s stock worth $150,000 after buying an additional 1,451 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Lear Corp. by 9.4% in the second quarter. Pacer Advisors Inc. now owns 1,509 shares of the company’s stock worth $154,000 after buying an additional 130 shares during the period. Institutional investors own 94.70% of the company’s stock.
In related news, Director Jonathan F. Foster sold 1,500 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $119.24, for a total value of $178,860.00. Following the sale, the director now owns 4,025 shares in the company, valued at $479,941. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.33% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 1.01%. Lear Corp.’s dividend payout ratio is currently 9.58%.
Lear Corp. Company Profile
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company operates through two segments: seating and electrical.
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