KeyCorp Weighs in on Lear Corporation’s FY2017 Earnings (LEA)
Lear Corporation (NYSE:LEA) – KeyCorp issued their FY2017 earnings per share estimates for shares of Lear Corporation in a report released on Wednesday. KeyCorp analyst B. Hoselton anticipates that the auto parts company will earn $16.72 per share for the year. KeyCorp currently has a “Buy” rating and a $184.00 target price on the stock. KeyCorp also issued estimates for Lear Corporation’s Q4 2017 earnings at $4.10 EPS.
Lear Corporation (NYSE:LEA) last posted its earnings results on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.16. Lear Corporation had a net margin of 5.79% and a return on equity of 31.79%. The business had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The firm’s revenue was up 10.1% on a year-over-year basis.
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Several other research firms have also commented on LEA. Zacks Investment Research upgraded shares of Lear Corporation from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research report on Wednesday, October 18th. Barclays PLC set a $171.00 price objective on shares of Lear Corporation and gave the company a “hold” rating in a report on Friday, October 20th. Jefferies Group LLC started coverage on shares of Lear Corporation in a report on Thursday, September 28th. They set a “buy” rating and a $197.00 price objective on the stock. BidaskClub downgraded shares of Lear Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, UBS AG downgraded shares of Lear Corporation from a “buy” rating to a “neutral” rating and raised their price target for the stock from $158.00 to $182.00 in a research note on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Lear Corporation currently has an average rating of “Hold” and an average target price of $173.13.
Shares of Lear Corporation (NYSE LEA) opened at 174.94 on Monday. Lear Corporation has a 52-week low of $112.54 and a 52-week high of $178.80. The company has a market cap of $11.91 billion, a P/E ratio of 11.66 and a beta of 1.35. The firm has a 50-day moving average of $170.22 and a 200-day moving average of $150.88.
Hedge funds have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its position in shares of Lear Corporation by 6.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 831 shares of the auto parts company’s stock worth $118,000 after buying an additional 48 shares in the last quarter. Toronto Dominion Bank lifted its stake in Lear Corporation by 10.9% in the second quarter. Toronto Dominion Bank now owns 852 shares of the auto parts company’s stock valued at $121,000 after buying an additional 84 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Lear Corporation in the second quarter valued at $126,000. Global X Management Co. LLC lifted its stake in Lear Corporation by 16.5% in the second quarter. Global X Management Co. LLC now owns 1,023 shares of the auto parts company’s stock valued at $145,000 after buying an additional 145 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Lear Corporation by 3.9% in the second quarter. Parallel Advisors LLC now owns 1,117 shares of the auto parts company’s stock valued at $166,000 after buying an additional 42 shares during the last quarter. 94.18% of the stock is owned by institutional investors and hedge funds.
In other Lear Corporation news, SVP Mel Stephens sold 2,411 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $172.88, for a total value of $416,813.68. Following the completion of the sale, the senior vice president now owns 44,484 shares of the company’s stock, valued at $7,690,393.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan F. Foster sold 2,854 shares of the stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $173.39, for a total transaction of $494,855.06. Following the completion of the sale, the director now directly owns 7,761 shares of the company’s stock, valued at approximately $1,345,679.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,404 shares of company stock valued at $1,601,681. Corporate insiders own 0.49% of the company’s stock.
Lear Corporation 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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