Research Analysts Offer Predictions for Lear Co.’s Q2 2019 Earnings (LEA)
Lear Co. (NYSE:LEA) – Equities researchers at Seaport Global Securities issued their Q2 2019 earnings per share estimates for Lear in a report released on Wednesday, February 13th. Seaport Global Securities analyst M. Ward anticipates that the auto parts company will earn $4.70 per share for the quarter. Seaport Global Securities has a “Buy” rating and a $199.00 price objective on the stock. Seaport Global Securities also issued estimates for Lear’s Q1 2020 earnings at $4.56 EPS.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Lear from a “buy” rating to a “hold” rating in a research note on Thursday, February 7th. Morgan Stanley set a $185.00 target price on Lear and gave the company a “buy” rating in a research note on Tuesday, January 29th. Goldman Sachs Group restated a “buy” rating and issued a $182.00 target price (up previously from $163.00) on shares of Lear in a research note on Monday, January 28th. Robert W. Baird boosted their target price on Lear from $140.00 to $158.00 and gave the company an “outperform” rating in a research note on Monday, January 28th. They noted that the move was a valuation call. Finally, KeyCorp boosted their target price on Lear from $178.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, January 28th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Lear has an average rating of “Buy” and an average target price of $183.40.
Lear (NYSE:LEA) last released its earnings results on Friday, January 25th. The auto parts company reported $4.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.96 by $0.09. The firm had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Lear had a return on equity of 27.12% and a net margin of 5.37%. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.38 EPS.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st will be given a dividend of $0.75 per share. This is a positive change from Lear’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $3.00 annualized dividend and a dividend yield of 1.91%. Lear’s payout ratio is 15.37%.
Lear declared that its board has authorized a share repurchase program on Thursday, February 7th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 15.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other Lear news, EVP Terrence B. Larkin sold 18,985 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $155.28, for a total transaction of $2,947,990.80. Following the transaction, the executive vice president now owns 2,752 shares of the company’s stock, valued at approximately $427,330.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.43% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of LEA. Massey Quick Simon & CO. LLC acquired a new position in shares of Lear during the 4th quarter worth approximately $32,000. IMS Capital Management acquired a new position in shares of Lear during the 3rd quarter worth approximately $38,000. Oregon Public Employees Retirement Fund increased its position in shares of Lear by 11,007.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 4,854,451 shares during the last quarter. Rational Advisors LLC acquired a new position in shares of Lear during the 4th quarter worth approximately $49,000. Finally, Advisory Services Network LLC increased its position in shares of Lear by 25.1% during the 4th quarter. Advisory Services Network LLC now owns 877 shares of the auto parts company’s stock worth $108,000 after purchasing an additional 176 shares during the last quarter. 96.53% of the stock is currently 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 primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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