$5.28 Billion in Sales Expected for Lear Co. (LEA) This Quarter

Analysts expect that Lear Co. (NYSE:LEA) will report $5.28 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for Lear’s earnings. The lowest sales estimate is $5.25 billion and the highest is $5.29 billion. Lear posted sales of $4.64 billion in the same quarter last year, which suggests a positive year over year growth rate of 13.8%. The business is expected to announce its next earnings results before the market opens on Friday, January 26th.

On average, analysts expect that Lear will report full year sales of $5.28 billion for the current year, with estimates ranging from $20.36 billion to $20.40 billion. For the next financial year, analysts forecast that the business will report sales of $21.35 billion per share, with estimates ranging from $20.53 billion to $22.08 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Lear.

Lear (NYSE:LEA) last posted its quarterly earnings data 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. Lear had a net margin of 5.79% and a return on equity of 31.79%. The company had revenue of $4.98 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the firm posted $3.19 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year.

LEA has been the subject of several recent research reports. KeyCorp boosted their price target on shares of Lear from $180.00 to $184.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Cowen initiated coverage on shares of Lear in a research note on Monday, September 25th. They issued an “outperform” rating and a $195.00 price target for the company. Deutsche Bank boosted their price target on shares of Lear from $167.00 to $176.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research downgraded shares of Lear from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Finally, Buckingham Research downgraded shares of Lear from a “buy” rating to a “neutral” rating and set a $175.00 price target for the company. in a research note on Tuesday, September 26th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Lear currently has an average rating of “Buy” and an average price target of $179.50.

In other Lear news, EVP Terrence B. Larkin sold 1,137 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $177.74, for a total value of $202,090.38. Following the transaction, the executive vice president now owns 6,912 shares in the company, valued at $1,228,538.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mel Stephens sold 796 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $179.00, for a total transaction of $142,484.00. Following the completion of the transaction, the senior vice president now owns 40,000 shares in the company, valued at approximately $7,160,000. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank increased its position in shares of Lear by 10.9% during 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 period. Mountain Capital Investment Advisors Inc purchased a new position in shares of Lear during the second quarter valued at about $126,000. Crossmark Global Holdings Inc. purchased a new position in shares of Lear during the third quarter valued at about $210,000. Calamos Advisors LLC purchased a new position in shares of Lear during the third quarter valued at about $216,000. Finally, Balasa Dinverno & Foltz LLC purchased a new position in shares of Lear during the third quarter valued at about $254,000. Hedge funds and other institutional investors own 91.73% of the company’s stock.

Shares of Lear (NYSE LEA) opened at $192.13 on Thursday. Lear has a fifty-two week low of $132.01 and a fifty-two week high of $193.12. The company has a current ratio of 1.34, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48. The stock has a market cap of $12,641.96, a price-to-earnings ratio of 11.98, a PEG ratio of 1.48 and a beta of 1.44.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Shareholders of record on Friday, December 8th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, December 7th. Lear’s payout ratio is 12.47%.

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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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