Q3 2016 Earnings Forecast for Lear Corp. (LEA) Issued By Northcoast Research
Lear Corp. (NYSE:LEA) – Stock analysts at Northcoast Research raised their Q3 2016 earnings 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 $2.94 per share for the quarter, up from their prior estimate of $2.81. Northcoast Research also issued estimates for Lear Corp.’s Q4 2016 earnings at $3.30 EPS.
Lear Corp. (NYSE:LEA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.34. The firm earned $4.70 billion during the quarter, compared to analyst estimates of $4.86 billion. Lear Corp. had a return on equity of 31.69% and a net margin of 5.14%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 EPS.
A number of other analysts have also weighed in on LEA. Citigroup Inc. increased their target price on shares of Lear Corp. from $145.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. RBC Capital Markets lowered shares of Lear Corp. from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from $120.00 to $121.00 in a report on Friday. They noted that the move was a valuation call. Barclays PLC set a $127.00 target price on shares of Lear Corp. and gave the stock a “hold” rating in a report on Monday, August 1st. Zacks Investment Research lowered shares of Lear Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Lear Corp. from $129.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Lear Corp. has an average rating of “Hold” and an average price target of $125.45.
Lear Corp. (NYSE:LEA) opened at 116.06 on Friday. The stock has a 50 day moving average price of $117.96 and a 200-day moving average price of $113.58. The stock 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 52 week low of $93.54 and a 52 week high of $127.00.
Several large investors have recently made changes to their positions in LEA. Highland Capital Management LLC increased its stake in shares of Lear Corp. by 1.8% in the third quarter. Highland Capital Management LLC now owns 4,648 shares of the company’s stock valued at $563,000 after buying an additional 80 shares during the period. MSI Financial Services Inc increased its stake in shares of Lear Corp. by 9.8% in the third quarter. MSI Financial Services Inc now owns 1,617 shares of the company’s stock valued at $196,000 after buying an additional 144 shares during the period. Prospera Financial Services Inc increased its stake in shares of Lear Corp. by 13.2% in the third quarter. Prospera Financial Services Inc now owns 2,575 shares of the company’s stock valued at $312,000 after buying an additional 300 shares during the period. Creative Planning increased its stake in shares of Lear Corp. by 154.6% in the third quarter. Creative Planning now owns 3,900 shares of the company’s stock valued at $473,000 after buying an additional 2,368 shares during the period. Finally, Waverton Investment Management Ltd increased its stake in shares of Lear Corp. by 200.7% in the third quarter. Waverton Investment Management Ltd now owns 68,764 shares of the company’s stock valued at $8,336,000 after buying an additional 45,894 shares during the period. 94.70% of the stock is owned by institutional investors.
In related news, Director Jonathan F. Foster sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total transaction of $178,860.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Tuesday, August 30th. Lear Corp.’s dividend payout ratio (DPR) is currently 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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