Lear Corp. (LEA) Lowered to “Sector Perform” at Royal Bank Of Canada
Lear Corp. (NYSE:LEA) was downgraded by equities research analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Friday. They presently have a $121.00 price target on the stock, up from their previous price target of $120.00. Royal Bank Of Canada’s price objective suggests a potential upside of 3.96% from the company’s previous close.
A number of other brokerages have also issued reports on LEA. Zacks Investment Research lowered Lear Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Barclays PLC set a $127.00 price objective on Lear Corp. and gave the stock a “hold” rating in a report on Monday, August 1st. Seaport Global Securities initiated coverage on Lear Corp. in a report on Tuesday, August 9th. They issued a “neutral” rating for the company. Robert W. Baird initiated coverage on Lear Corp. in a research note on Monday. They set a “neutral” rating and a $133.00 price target for the company. Finally, RBC Capital Markets lowered Lear Corp. from an “outperform” rating to a “sector perform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $125.90.
Lear Corp. (NYSE:LEA) opened at 116.39 on Friday. Lear Corp. has a 12-month low of $93.54 and a 12-month high of $127.00. The stock has a 50 day moving average price of $117.94 and a 200-day moving average price of $113.54. The firm has a market capitalization of $8.33 billion, a PE ratio of 9.31 and a beta of 1.22.
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Lear Corp. (NYSE:LEA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.34. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The business earned $4.70 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the company posted $2.82 EPS. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Lear Corp. will post $13.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. Lear Corp.’s payout ratio is currently 9.58%.
In other 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 completion of the sale, the director now owns 4,025 shares in the company, valued at $479,941. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in LEA. Advisory Services Network LLC raised its stake in 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 last quarter. Checchi Capital Advisers LLC raised its stake in 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 last quarter. Societe Generale acquired a new stake in Lear Corp. during the second quarter worth about $121,000. Assetmark Inc. raised its stake in 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 last quarter. Finally, Pacer Advisors Inc. raised its stake in 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 last quarter. Institutional investors own 94.70% of the company’s stock.
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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