Lear Corporation (LEA) Set to Announce Quarterly Earnings on Wednesday
Lear Corporation (NYSE:LEA) is set to announce its earnings results before the market opens on Wednesday, October 25th. Analysts expect the company to announce earnings of $3.69 per share for the quarter.
Lear Corporation (NYSE:LEA) last released its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.11 by $0.28. The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $4.89 billion. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.66 earnings per share. On average, analysts expect Lear Corporation to post $16.66 EPS for the current fiscal year and $17.45 EPS for the next fiscal year.
Lear Corporation (NYSE:LEA) opened at 173.04 on Wednesday. The firm’s 50-day moving average price is $164.19 and its 200-day moving average price is $148.37. Lear Corporation has a 1-year low of $110.77 and a 1-year high of $177.24. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 11.53 and a beta of 1.35.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Tuesday, August 29th. Lear Corporation’s dividend payout ratio (DPR) is presently 13.28%.
In related news, Director Henry D. G. Wallace sold 4,139 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $166.71, for a total value of $690,012.69. Following the transaction, the director now directly owns 4,100 shares of the company’s stock, valued at approximately $683,511. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mel Stephens sold 2,411 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $172.88, for a total value of $416,813.68. Following the completion of the transaction, the senior vice president now directly owns 44,484 shares in the company, valued at $7,690,393.92. The disclosure for this sale can be found here. Insiders sold a total of 9,404 shares of company stock worth $1,601,681 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.
LEA has been the topic of a number of analyst reports. Guggenheim initiated coverage on Lear Corporation in a report on Wednesday, June 21st. They set a “buy” rating and a $167.00 target price on the stock. Zacks Investment Research cut Lear Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Royal Bank Of Canada reiterated a “hold” rating and set a $157.00 target price on shares of Lear Corporation in a report on Wednesday, July 12th. BidaskClub upgraded Lear Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Finally, Barclays PLC increased their target price on Lear Corporation from $146.00 to $152.00 and gave the company an “equal weight” rating in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Lear Corporation has a consensus rating of “Hold” and a consensus target price of $167.60.
About Lear Corporation
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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