FY2016 EPS Estimates for Lear Corp. Increased by Northcoast Research (LEA)
Lear Corp. (NYSE:LEA) – Analysts at Northcoast Research increased their FY2016 EPS estimates for shares of Lear Corp. in a research note issued on Wednesday. Northcoast Research analyst B. Keller now expects that the brokerage will earn $13.29 per share for the year, up from their prior estimate of $13.11.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Lear Corp. from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research report on Tuesday, October 4th. Citigroup Inc. lifted their price objective on shares of Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Barclays PLC set a $127.00 price objective on shares of Lear Corp. and gave the stock a “hold” rating in a research report on Monday, August 1st. Seaport Global Securities initiated coverage on shares of Lear Corp. in a research report on Tuesday, August 9th. They set a “neutral” rating for the company. Finally, Bank of America Corp. cut shares of Lear Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $127.40.
Shares of Lear Corp. (NYSE:LEA) opened at 116.39 on Thursday. Lear Corp. has a 12 month low of $93.54 and a 12 month high of $127.00. The firm has a market cap of $8.33 billion, a PE ratio of 9.31 and a beta of 1.22. The company’s 50 day moving average is $117.94 and its 200-day moving average is $113.54.
Lear Corp. (NYSE:LEA) last announced its earnings results on Thursday, July 28th. The company reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.34. The business earned $4.70 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $2.82 EPS.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.03%. The ex-dividend date was Tuesday, August 30th. Lear Corp.’s payout ratio is 9.58%.
In other Lear Corp. news, Director Jonathan F. Foster sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $119.24, for a total transaction of $178,860.00. Following the completion of the transaction, the director now owns 4,025 shares of the company’s stock, valued at $479,941. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Lear Corp. during the second quarter valued at approximately $222,829,000. Investec Asset Management LTD acquired a new position in shares of Lear Corp. during the first quarter valued at approximately $62,828,000. Vanguard Group Inc. increased its position in shares of Lear Corp. by 9.7% in the second quarter. Vanguard Group Inc. now owns 5,704,450 shares of the company’s stock valued at $580,484,000 after buying an additional 502,415 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Lear Corp. by 30.8% in the second quarter. AQR Capital Management LLC now owns 1,668,029 shares of the company’s stock valued at $169,739,000 after buying an additional 392,597 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Lear Corp. by 259.0% in the second quarter. American Century Companies Inc. now owns 531,695 shares of the company’s stock valued at $54,105,000 after buying an additional 383,579 shares during the last quarter. 94.70% of the stock is owned by hedge funds and other institutional investors.
About Lear Corp.
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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