Lear Co. (NYSE:LEA) – Equities researchers at Jefferies Financial Group increased their Q4 2020 EPS estimates for Lear in a research note issued on Tuesday, January 12th. Jefferies Financial Group analyst D. Kelley now anticipates that the auto parts company will earn $3.65 per share for the quarter, up from their previous forecast of $3.36. Jefferies Financial Group also issued estimates for Lear’s Q1 2021 earnings at $3.36 EPS, Q2 2021 earnings at $3.38 EPS, Q4 2021 earnings at $3.96 EPS, FY2021 earnings at $14.48 EPS and FY2022 earnings at $17.40 EPS.
Several other research firms have also recently issued reports on LEA. JPMorgan Chase & Co. raised their target price on Lear from $125.00 to $149.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Royal Bank of Canada restated a “buy” rating and set a $216.00 price target on shares of Lear in a research report on Thursday. Morgan Stanley upgraded Lear from an “equal weight” rating to an “overweight” rating and set a $175.00 price target for the company in a research report on Monday, November 9th. KeyCorp raised their price target on Lear from $148.00 to $185.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 16th. Finally, Berenberg Bank initiated coverage on Lear in a report on Tuesday, October 6th. They issued a “buy” rating and a $145.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $141.29.
Lear (NYSE:LEA) last posted its quarterly earnings results on Wednesday, November 4th. The auto parts company reported $3.73 EPS for the quarter, beating the consensus estimate of $3.22 by $0.51. Lear had a return on equity of 6.17% and a net margin of 0.50%. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter last year, the firm earned $3.54 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 29th. Investors of record on Thursday, December 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, December 9th. This represents a $1.00 dividend on an annualized basis and a yield of 0.61%. Lear’s dividend payout ratio is currently 7.15%.
A number of large investors have recently bought and sold shares of LEA. Raymond James Trust N.A. purchased a new position in shares of Lear in the 4th quarter worth $227,000. IFM Investors Pty Ltd boosted its position in Lear by 18.1% in the 4th quarter. IFM Investors Pty Ltd now owns 6,148 shares of the auto parts company’s stock valued at $978,000 after buying an additional 944 shares during the period. Redpoint Investment Management Pty Ltd purchased a new stake in Lear in the 4th quarter valued at about $231,000. First Hawaiian Bank purchased a new stake in Lear in the 4th quarter valued at about $1,062,000. Finally, Louisiana State Employees Retirement System boosted its position in Lear by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 13,700 shares of the auto parts company’s stock valued at $2,179,000 after buying an additional 100 shares during the period. 92.20% of the stock is owned by hedge funds and other institutional investors.
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, South America, and internationally. Its Seating segment offers leather and fabric products, seat covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles.
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