Lear Co. (LEA) Expected to Announce Quarterly Sales of $4.88 Billion
Equities analysts expect that Lear Co. (NYSE:LEA) will post $4.88 billion in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Lear’s earnings. The highest sales estimate is $4.93 billion and the lowest is $4.82 billion. Lear reported sales of $4.72 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 3.4%. The firm is scheduled to issue its next earnings report on Thursday, July 27th.
On average, analysts expect that Lear will report full-year sales of $4.88 billion for the current financial year, with estimates ranging from $19.49 billion to $19.72 billion. For the next fiscal year, analysts expect that the firm will report sales of $20.4 billion per share, with estimates ranging from $19.75 billion to $20.83 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Lear.
Lear (NYSE:LEA) last issued its quarterly earnings data on Wednesday, April 26th. The auto parts company reported $4.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.95 by $0.32. Lear had a return on equity of 32.21% and a net margin of 5.25%. The firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the previous year, the firm posted $3.40 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year.
LEA has been the subject of several research analyst reports. Seaport Global Securities upgraded shares of Lear from a “neutral” rating to a “buy” rating and set a $163.00 price target for the company in a research report on Thursday, May 4th. Zacks Investment Research upgraded shares of Lear from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research note on Wednesday, February 1st. Berenberg Bank began coverage on shares of Lear in a research note on Friday, March 31st. They set a “buy” rating and a $175.00 price target on the stock. Barclays PLC restated an “equal weight” rating and set a $134.00 price target (down previously from $138.00) on shares of Lear in a research note on Saturday, April 22nd. Finally, Morgan Stanley lowered shares of Lear from an “overweight” rating to an “equal weight” rating and set a $149.00 target price on the stock. in a research note on Tuesday, February 21st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Lear currently has a consensus rating of “Hold” and an average price target of $144.75.
In other news, Director Greg C. Smith sold 2,266 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $145.12, for a total value of $328,841.92. Following the sale, the director now owns 13,885 shares of the company’s stock, valued at $2,014,991.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas P. Capo sold 1,500 shares of the business’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $146.31, for a total transaction of $219,465.00. Following the completion of the sale, the director now directly owns 345 shares in the company, valued at approximately $50,476.95. The disclosure for this sale can be found here. In the last three months, insiders sold 24,933 shares of company stock worth $3,607,900. 0.33% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. First Interstate Bank raised its stake in shares of Lear by 4.1% in the fourth quarter. First Interstate Bank now owns 767 shares of the auto parts company’s stock worth $102,000 after buying an additional 30 shares in the last quarter. Toronto Dominion Bank raised its stake in Lear by 23.9% in the first quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock valued at $109,000 after buying an additional 148 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Lear by 52.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 783 shares of the auto parts company’s stock valued at $111,000 after buying an additional 270 shares during the period. TrimTabs Asset Management LLC raised its stake in Lear by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock valued at $123,000 after buying an additional 408 shares during the period. Finally, Global X Management Co. LLC raised its stake in Lear by 30.3% in the first quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock valued at $124,000 after buying an additional 204 shares during the period. 97.32% of the stock is currently owned by institutional investors and hedge funds.
Lear (NYSE:LEA) traded up 1.73% during mid-day trading on Friday, reaching $147.47. 434,902 shares of the company’s stock traded hands. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 10.26 and a beta of 1.27. The company has a 50-day moving average of $140.21 and a 200-day moving average of $138.10. Lear has a 52-week low of $97.35 and a 52-week high of $149.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Friday, June 9th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Wednesday, June 7th. Lear’s dividend payout ratio is presently 9.00%.
Lear 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’s segments include Seating and E-Systems.
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