Lear Co. (NYSE:LEA) has been given a consensus recommendation of “Buy” by the nineteen ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $193.00.
Several equities analysts recently commented on LEA shares. Cowen reduced their target price on Lear from $215.00 to $212.00 and set an “outperform” rating for the company in a research report on Monday, August 9th. Bank of America cut Lear from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $200.00 to $160.00 in a research report on Thursday, September 16th. Credit Suisse Group cut their price objective on Lear from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, August 10th. Wells Fargo & Company cut their price objective on Lear from $203.00 to $199.00 and set an “overweight” rating for the company in a report on Friday, September 10th. Finally, TheStreet upgraded Lear from a “c” rating to a “b-” rating in a report on Friday, August 13th.
Institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its stake in Lear by 38.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,114 shares of the auto parts company’s stock valued at $564,000 after purchasing an additional 862 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Lear by 40.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 3,954 shares of the auto parts company’s stock valued at $716,000 after buying an additional 1,133 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Lear by 6.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 55,458 shares of the auto parts company’s stock valued at $10,052,000 after buying an additional 3,516 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Lear by 205.0% during the 1st quarter. Natixis Advisors L.P. now owns 60,852 shares of the auto parts company’s stock valued at $11,028,000 after buying an additional 40,901 shares during the period. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Lear by 14.6% during the 1st quarter. IFM Investors Pty Ltd now owns 7,044 shares of the auto parts company’s stock valued at $1,277,000 after buying an additional 896 shares during the period. Institutional investors own 95.77% of the company’s stock.
Lear (NYSE:LEA) last posted its earnings results on Thursday, August 5th. The auto parts company reported $2.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.47 by ($0.02). Lear had a return on equity of 17.71% and a net margin of 3.73%. The business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the firm earned ($4.14) earnings per share. Lear’s quarterly revenue was up 94.7% compared to the same quarter last year. As a group, equities research analysts forecast that Lear will post 11.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 21st. Stockholders of record on Thursday, September 2nd will be given a $0.50 dividend. The ex-dividend date is Wednesday, September 1st. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. This is a positive change from Lear’s previous quarterly dividend of $0.25. Lear’s dividend payout ratio is currently 37.52%.
Lear Corp. engages in the design, manufacture and supply of automotive seat, electrical distribution systems and electronic modules, as well as related sub-systems, components, and software. It operates through the following segments: Seating and E-Systems. The Seating segment consists of the design, engineering, just-in-time assembly and delivery of complete seat systems, as well as the manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests.
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