Lear Co. (NYSE:LEA) – Research analysts at Seaport Global Securities issued their Q1 2019 EPS estimates for shares of Lear in a report issued on Wednesday, February 13th. Seaport Global Securities analyst M. Ward forecasts that the auto parts company will post earnings of $4.56 per share for the quarter. Seaport Global Securities has a “Buy” rating and a $199.00 price target on the stock. Seaport Global Securities also issued estimates for Lear’s Q3 2019 earnings at $4.53 EPS, Q4 2019 earnings at $4.68 EPS, FY2019 earnings at $18.45 EPS, Q2 2020 earnings at $5.02 EPS, Q3 2020 earnings at $5.03 EPS, Q4 2020 earnings at $5.38 EPS and FY2020 earnings at $20.00 EPS.
A number of other equities research analysts also recently weighed in on the company. UBS Group raised Lear from a “neutral” rating to a “buy” rating in a research report on Friday, January 4th. Deutsche Bank initiated coverage on Lear in a research report on Thursday, December 13th. They set a “buy” rating on the stock. Jefferies Financial Group initiated coverage on Lear in a research report on Tuesday, December 4th. They set a “buy” rating and a $166.00 target price on the stock. Morgan Stanley decreased their target price on Lear from $214.00 to $186.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Finally, Buckingham Research raised Lear from a “neutral” rating to a “buy” rating in a research report on Monday, January 7th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $183.40.
Shares of NYSE:LEA opened at $153.59 on Thursday. The stock has a market capitalization of $9.59 billion, a PE ratio of 8.43, a price-to-earnings-growth ratio of 3.31 and a beta of 1.40. Lear has a 52-week low of $114.45 and a 52-week high of $206.36. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.13 and a current ratio of 1.40.
Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, January 25th. The auto parts company reported $4.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.96 by $0.09. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.99 billion. Lear had a return on equity of 27.12% and a net margin of 5.37%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same period last year, the business posted $4.38 earnings per share.
Lear declared that its board has initiated a share repurchase plan on Thursday, February 7th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the auto parts company to reacquire up to 15.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Friday, March 1st will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.95%. This is an increase from Lear’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, February 28th. Lear’s payout ratio is presently 15.37%.
In other Lear news, Director Richard Harold Bott sold 789 shares of Lear stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $135.13, for a total transaction of $106,617.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.43% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its stake in shares of Lear by 11,007.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock valued at $40,000 after acquiring an additional 4,854,451 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Lear by 140.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,841,520 shares of the auto parts company’s stock valued at $349,110,000 after acquiring an additional 1,659,488 shares during the last quarter. Pzena Investment Management LLC bought a new position in shares of Lear in the fourth quarter valued at approximately $339,861,000. Boston Partners raised its stake in shares of Lear by 31.7% in the fourth quarter. Boston Partners now owns 2,063,594 shares of the auto parts company’s stock valued at $253,533,000 after acquiring an additional 496,194 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Lear by 23.3% in the second quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock valued at $297,203,000 after acquiring an additional 302,664 shares during the last quarter. 96.53% of the stock is currently owned by institutional investors.
Lear Company Profile
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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