Lear Corporation (NYSE:LEA) to Issue Quarterly Dividend of $0.77

Lear Corporation (NYSE:LEA) announced a quarterly dividend on Thursday, August 13th. Investors of record on Wednesday, September 2nd will be given a dividend of 0.77 per share by the auto parts company on Tuesday, September 22nd. This represents a c) dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, September 2nd.

Lear has raised its dividend by an average of 0.2%per year over the last three years. Lear has a dividend payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lear to earn $16.77 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 18.4%.

Lear Price Performance

LEA opened at $122.48 on Friday. Lear has a twelve month low of $96.04 and a twelve month high of $150.33. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 0.58 and a beta of 1.25. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $136.17 and a 200 day simple moving average of $131.20.

Lear (NYSE:LEA) last issued its quarterly earnings data on Friday, July 31st. The auto parts company reported $4.28 EPS for the quarter, topping analysts’ consensus estimates of $3.98 by $0.30. The firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.15 billion. Lear had a net margin of 2.35% and a return on equity of 14.18%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.06 EPS. Equities research analysts expect that Lear will post 14.87 EPS for the current fiscal year.

Analyst Ratings Changes

LEA has been the topic of several recent analyst reports. Wall Street Zen cut Lear from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Royal Bank Of Canada raised their price objective on Lear from $138.00 to $143.00 and gave the company a “sector perform” rating in a research note on Monday, July 13th. Wells Fargo & Company lifted their price objective on Lear from $137.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft set a $131.00 target price on Lear in a research report on Monday, August 3rd. Finally, Citigroup raised their price target on shares of Lear from $177.00 to $179.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, Lear presently has a consensus rating of “Hold” and a consensus target price of $145.23.

About Lear

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.