Lear Corp. (NYSE:LEA) – Northcoast Research lifted their Q3 2016 earnings per share estimates for shares of Lear Corp. in a report released on Wednesday. Northcoast Research analyst B. Keller now forecasts that the firm will earn $2.94 per share for the quarter, up from their previous estimate of $2.81. Northcoast Research also issued estimates for Lear Corp.’s Q4 2016 earnings at $3.30 EPS.
LEA has been the topic of several other research reports. Goldman Sachs Group Inc. downgraded shares of Lear Corp. from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $116.00 to $107.00 in a research note on Thursday, October 6th. Zacks Investment Research raised shares of Lear Corp. from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Thursday. Royal Bank Of Canada downgraded shares of Lear Corp. from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $120.00 to $121.00 in a research note on Friday. JPMorgan Chase & Co. raised their price target on shares of Lear Corp. from $129.00 to $130.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. Finally, Citigroup Inc. raised their target price on shares of Lear Corp. from $145.00 to $153.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $125.45.
Lear Corp. (NYSE:LEA) opened at 116.06 on Friday. The company’s 50-day moving average is $117.96 and its 200-day moving average is $113.58. The company has a market cap of $8.30 billion, a P/E ratio of 9.29 and a beta of 1.22. Lear Corp. has a 12 month low of $93.54 and a 12 month high of $127.00.
Lear Corp. (NYSE:LEA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.32 by $0.34. The company had revenue of $4.70 billion for the quarter, compared to the consensus estimate of $4.86 billion. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.82 earnings per share.
A number of hedge funds have recently added to or reduced their stakes in LEA. State Street Corp boosted its stake in Lear Corp. by 4.5% in the first quarter. State Street Corp now owns 1,644,731 shares of the company’s stock worth $182,840,000 after buying an additional 71,570 shares during the period. Pegasus Partners Ltd. bought a new stake in Lear Corp. during the first quarter worth approximately $747,000. BB&T Securities LLC boosted its stake in Lear Corp. by 12.1% in the first quarter. BB&T Securities LLC now owns 2,346 shares of the company’s stock worth $260,000 after buying an additional 254 shares during the period. Credit Agricole S A boosted its stake in Lear Corp. by 52.9% in the first quarter. Credit Agricole S A now owns 42,146 shares of the company’s stock worth $4,686,000 after buying an additional 14,589 shares during the period. Finally, Aviva PLC boosted its stake in Lear Corp. by 0.7% in the first quarter. Aviva PLC now owns 38,425 shares of the company’s stock worth $4,272,000 after buying an additional 255 shares during the period. Institutional investors own 94.70% of the company’s stock.
In related news, Director Jonathan F. Foster sold 1,500 shares of Lear Corp. stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total value of $178,860.00. Following the completion of the sale, the director now directly owns 4,025 shares in the company, valued at approximately $479,941. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Tuesday, August 30th. Lear Corp.’s dividend payout ratio (DPR) is presently 9.58%.
Lear Corp. 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 operates through two segments: seating and electrical.
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