Brokers Offer Predictions for Lear Corporation’s FY2018 Earnings (LEA)
Lear Corporation (NYSE:LEA) – Equities researchers at KeyCorp raised their FY2018 earnings per share (EPS) estimates for Lear Corporation in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. KeyCorp analyst B. Hoselton now anticipates that the auto parts company will post earnings of $18.02 per share for the year, up from their prior forecast of $17.89. KeyCorp currently has a “Buy” rating and a $184.00 target price on the stock.
Lear Corporation (NYSE:LEA) last released its quarterly earnings results on Wednesday, October 25th. The auto parts company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.16. The firm had revenue of $4.98 billion for the quarter, compared to the consensus estimate of $4.84 billion. Lear Corporation had a return on equity of 31.79% and a net margin of 5.79%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.19 EPS. COPYRIGHT VIOLATION NOTICE: This story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/10/27/research-analysts-offer-predictions-for-lear-corporations-fy2018-earnings-lea.html.
Lear Corporation (NYSE:LEA) opened at $174.36 on Friday. The stock has a market capitalization of $11,852.18, a P/E ratio of 10.68, a P/E/G ratio of 1.46 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 1.34. Lear Corporation has a 12 month low of $119.47 and a 12 month high of $178.80.
Hedge funds have recently modified their holdings of the stock. Koch Industries Inc. acquired a new position in Lear Corporation during the second quarter worth $485,000. Old Mutual Global Investors UK Ltd. raised its holdings in Lear Corporation by 16.0% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 671,211 shares of the auto parts company’s stock worth $95,365,000 after purchasing an additional 92,491 shares during the last quarter. Citigroup Inc. raised its holdings in Lear Corporation by 16.7% during the second quarter. Citigroup Inc. now owns 216,660 shares of the auto parts company’s stock worth $30,783,000 after purchasing an additional 30,988 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in Lear Corporation during the first quarter worth $3,302,000. Finally, Deschutes Portfolio Strategy LLC raised its holdings in Lear Corporation by 21.9% during the second quarter. Deschutes Portfolio Strategy LLC now owns 2,225 shares of the auto parts company’s stock worth $316,000 after purchasing an additional 400 shares during the last quarter. 94.44% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Mel Stephens sold 2,411 shares of Lear Corporation stock in a transaction on Monday, September 25th. The stock was sold at an average price of $172.88, for a total transaction of $416,813.68. Following the completion of the transaction, the senior vice president now directly owns 44,484 shares of the company’s stock, valued at $7,690,393.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Henry D. G. Wallace sold 4,139 shares of Lear Corporation stock in a transaction on Monday, September 18th. The stock was sold at an average price of $166.71, for a total value of $690,012.69. Following the transaction, the director now directly owns 4,100 shares of the company’s stock, valued at $683,511. The disclosure for this sale can be found here. Insiders sold a total of 9,404 shares of company stock valued at $1,601,681 over the last three months. Insiders own 0.49% 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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