Brokerages Anticipate Lear Corporation (LEA) to Announce $4.14 EPS
Wall Street brokerages expect that Lear Corporation (NYSE:LEA) will announce earnings of $4.14 per share for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Lear Corporation’s earnings. The highest EPS estimate is $4.37 and the lowest is $4.04. Lear Corporation reported earnings of $3.66 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 13.1%. The company is scheduled to report its next earnings results on Thursday, July 27th.
On average, analysts expect that Lear Corporation will report full-year earnings of $16.20 per share for the current financial year, with EPS estimates ranging from $15.78 to $16.85. For the next year, analysts expect that the business will post earnings of $17.19 per share, with EPS estimates ranging from $13.95 to $18.68. Zacks’ EPS calculations are an average based on a survey of analysts that follow Lear Corporation.
Lear Corporation (NYSE:LEA) last posted its quarterly earnings data on Wednesday, April 26th. The auto parts company reported $4.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.95 by $0.32. Lear Corporation had a return on equity of 32.76% and a net margin of 5.46%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the firm earned $3.40 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis.
Several brokerages have commented on LEA. Royal Bank Of Canada reiterated a “hold” rating and set a $148.00 target price on shares of Lear Corporation in a research note on Monday, April 10th. Robert W. Baird upgraded Lear Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the company from $160.00 to $161.00 in a research note on Thursday, April 20th. Bank of America Corporation downgraded Lear Corporation from a “neutral” rating to an “underperform” rating and cut their target price for the company from $135.00 to $110.00 in a research note on Friday. Seaport Global Securities upgraded Lear Corporation from a “neutral” rating to a “buy” rating and set a $163.00 target price on the stock in a research note on Thursday, May 4th. Finally, Zacks Investment Research downgraded Lear Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 28th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Lear Corporation presently has a consensus rating of “Hold” and an average target price of $143.75.
Lear Corporation (NYSE:LEA) traded up 0.24% on Monday, reaching $138.78. The company’s stock had a trading volume of 1,168,089 shares. The company’s 50 day moving average price is $144.99 and its 200-day moving average price is $140.63. The stock has a market cap of $9.56 billion, a PE ratio of 9.66 and a beta of 1.23. Lear Corporation has a 12-month low of $97.35 and a 12-month high of $153.28.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Friday, June 9th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.44%. Lear Corporation’s dividend payout ratio (DPR) is currently 13.90%.
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In other news, Director Greg C. Smith sold 2,266 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $145.12, for a total value of $328,841.92. Following the transaction, the director now directly owns 13,885 shares in the company, valued at approximately $2,014,991.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.49% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in shares of Lear Corporation by 23.9% in the first quarter. Toronto Dominion Bank now owns 768 shares of the auto parts company’s stock worth $109,000 after buying an additional 148 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Lear Corporation by 52.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 783 shares of the auto parts company’s stock worth $111,000 after buying an additional 270 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in shares of Lear Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 868 shares of the auto parts company’s stock worth $123,000 after buying an additional 408 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of Lear Corporation by 30.3% in the first quarter. Global X Management Co. LLC now owns 878 shares of the auto parts company’s stock worth $124,000 after buying an additional 204 shares in the last quarter. Finally, Van ECK Associates Corp bought a new position in shares of Lear Corporation during the fourth quarter worth approximately $124,000. Hedge funds and other institutional investors own 96.92% of the company’s stock.
About Lear Corporation
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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