Lear Corporation (NYSE:LEA) announced its earnings results on Wednesday, October 25th. The auto parts company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.80 by $0.16, Bloomberg Earnings reports. The company had revenue of $4.98 billion for the quarter, compared to analyst estimates of $4.84 billion. Lear Corporation had a return on equity of 31.79% and a net margin of 5.79%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.19 EPS.
Shares of Lear Corporation (NYSE LEA) traded up $0.90 during trading hours on Friday, hitting $175.43. 393,600 shares of the company were exchanged, compared to its average volume of 682,939. The company has a current ratio of 1.34, a quick ratio of 1.09 and a debt-to-equity ratio of 0.48. Lear Corporation has a 1 year low of $117.53 and a 1 year high of $178.80. The company has a market cap of $11,791.38, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 1.45 and a beta of 1.44.
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In other news, Director Jonathan F. Foster sold 2,854 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $173.39, for a total transaction of $494,855.06. Following the transaction, the director now directly owns 7,761 shares of the company’s stock, valued at $1,345,679.79. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Henry D. G. Wallace sold 4,139 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $166.71, for a total transaction of $690,012.69. Following the transaction, the director now directly owns 4,100 shares in the company, valued at $683,511. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,404 shares of company stock valued at $1,601,681. 0.49% of the stock is owned by insiders.
A number of brokerages recently commented on LEA. Cowen and Company reaffirmed a “buy” rating and set a $196.00 price target on shares of Lear Corporation in a research report on Friday, October 27th. UBS AG lowered Lear Corporation from a “buy” rating to a “neutral” rating and raised their price target for the stock from $158.00 to $182.00 in a report on Tuesday, October 3rd. Zacks Investment Research lowered Lear Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Jefferies Group LLC started coverage on Lear Corporation in a research note on Thursday, September 28th. They set a “buy” rating and a $197.00 price target for the company. Finally, Buckingham Research lowered Lear Corporation from a “buy” rating to a “neutral” rating and set a $175.00 price target for the company. in a research note on Tuesday, September 26th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $173.13.
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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