Lear Co. (LEA) Given Consensus Rating of “Hold” by Analysts
Shares of Lear Co. (NYSE:LEA) have earned an average recommendation of “Hold” from the nineteen analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $205.59.
A number of equities research analysts have weighed in on LEA shares. Citigroup cut their price objective on shares of Lear from $243.00 to $234.00 and set a “buy” rating on the stock in a report on Monday, July 30th. Robert W. Baird restated a “buy” rating and issued a $243.00 price objective on shares of Lear in a report on Friday, July 27th. Longbow Research restated a “buy” rating and issued a $225.00 price objective on shares of Lear in a report on Thursday, July 26th. ValuEngine cut shares of Lear from a “buy” rating to a “hold” rating in a report on Friday, June 29th. Finally, Zacks Investment Research cut shares of Lear from a “buy” rating to a “hold” rating in a report on Saturday, May 26th.
Several large investors have recently bought and sold shares of LEA. Bank of Montreal Can purchased a new stake in shares of Lear during the second quarter valued at approximately $266,584,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Lear by 1,004.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 731,643 shares of the auto parts company’s stock valued at $135,947,000 after buying an additional 665,403 shares during the last quarter. Standard Life Aberdeen plc grew its holdings in shares of Lear by 65.8% during the second quarter. Standard Life Aberdeen plc now owns 924,394 shares of the auto parts company’s stock valued at $171,785,000 after buying an additional 366,915 shares during the last quarter. Boston Partners grew its holdings in shares of Lear by 36.6% during the second quarter. Boston Partners now owns 1,368,460 shares of the auto parts company’s stock valued at $254,274,000 after buying an additional 366,768 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Lear by 23.3% during the second quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock valued at $297,203,000 after buying an additional 302,664 shares during the last quarter. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Lear (NYSE:LEA) last announced its quarterly earnings results on Thursday, July 26th. The auto parts company reported $4.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.99 by ($0.04). Lear had a net margin of 6.31% and a return on equity of 28.84%. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the firm earned $4.39 EPS. Lear’s quarterly revenue was up 8.9% compared to the same quarter last year. equities analysts predict that Lear will post 19.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Thursday, August 30th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, August 29th. Lear’s payout ratio is 16.47%.
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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