Lear Corporation Plans Quarterly Dividend of $0.50 (LEA)
Lear Corporation (NYSE:LEA) declared a quarterly dividend on Thursday, August 10th, RTT News reports. Shareholders of record on Thursday, August 31st will be paid a dividend of 0.50 per share by the auto parts company on Tuesday, September 19th. This represents a $2.00 dividend on an annualized basis and a yield of 1.38%.
Lear Corporation has raised its dividend by an average of 20.8% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Lear Corporation has a payout ratio of 12.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Lear Corporation to earn $17.37 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 11.5%.
Shares of Lear Corporation (NYSE LEA) traded down 2.35% during trading on Thursday, reaching $142.01. The company’s stock had a trading volume of 443,134 shares. The company has a market cap of $9.67 billion, a PE ratio of 9.46 and a beta of 1.32. The company has a 50 day moving average of $145.02 and a 200 day moving average of $142.88. Lear Corporation has a 12-month low of $110.77 and a 12-month high of $153.28.
Lear Corporation (NYSE:LEA) last announced its quarterly earnings data on Wednesday, July 26th. The auto parts company reported $4.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.11 by $0.28. Lear Corporation had a return on equity of 32.34% and a net margin of 5.51%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the business earned $3.66 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. On average, analysts anticipate that Lear Corporation will post $16.49 EPS for the current fiscal year.
Several brokerages have recently commented on LEA. Morgan Stanley downgraded Lear Corporation from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $149.00 to $142.00 in a research report on Thursday, June 8th. Barclays PLC boosted their price objective on Lear Corporation from $146.00 to $152.00 and gave the company an “equal weight” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded Lear Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. BidaskClub upgraded Lear Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $157.00 price objective on shares of Lear Corporation in a research report on Wednesday, July 12th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Lear Corporation presently has an average rating of “Hold” and an average target price of $148.64.
In other news, Director Greg C. Smith sold 2,266 shares of Lear Corporation stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $145.12, for a total value of $328,841.92. Following the sale, the director now directly owns 13,885 shares of the company’s stock, valued at $2,014,991.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.49% of the company’s stock.
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Lear Corporation 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’s segments include Seating and E-Systems.
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