Lear (LEA) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Lear (NYSE:LEA) released its earnings results on Thursday. The auto parts company reported $5.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.91 by $0.19, Bloomberg Earnings reports. Lear had a return on equity of 30.32% and a net margin of 6.42%. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the business posted $4.27 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year.

Shares of Lear stock traded down $0.83 during trading hours on Thursday, reaching $187.66. The stock had a trading volume of 333,615 shares, compared to its average volume of 599,306. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.36 and a quick ratio of 1.11. Lear has a 1 year low of $133.78 and a 1 year high of $202.42. The company has a market cap of $12,607.08, a price-to-earnings ratio of 11.09 and a beta of 1.45.

Several equities analysts recently weighed in on the company. ValuEngine downgraded Lear from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 21st. Barclays reduced their target price on Lear from $200.00 to $199.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 17th. Zacks Investment Research upgraded Lear from a “hold” rating to a “buy” rating and set a $207.00 target price on the stock in a research report on Thursday, March 29th. Morgan Stanley upgraded Lear from an “underweight” rating to an “equal weight” rating and set a $191.00 target price on the stock in a research report on Thursday, March 22nd. Finally, Susquehanna Bancshares set a $188.00 target price on Lear and gave the stock a “hold” rating in a research report on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $194.67.

In other Lear news, EVP Terrence B. Larkin sold 22,756 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $190.14, for a total transaction of $4,326,825.84. Following the completion of the sale, the executive vice president now owns 15,515 shares in the company, valued at approximately $2,950,022.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Thomas A. Didonato sold 9,618 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $190.16, for a total value of $1,828,958.88. Following the sale, the senior vice president now owns 15,694 shares of the company’s stock, valued at approximately $2,984,371.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 261,115 shares of company stock valued at $49,699,331. Insiders own 0.43% of the company’s stock.

Lear declared that its board has approved a share repurchase program on Wednesday, February 14th that permits the company to repurchase $954.00 million in outstanding shares. This repurchase authorization permits the auto parts company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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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.

Earnings History for Lear (NYSE:LEA)

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