Wall Street analysts expect that Lear Co. (NYSE:LEA) will report sales of $5.62 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Lear’s earnings. The highest sales estimate is $5.73 billion and the lowest is $5.50 billion. Lear posted sales of $5.12 billion during the same quarter last year, which would indicate a positive year over year growth rate of 9.8%. The company is scheduled to announce its next earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that Lear will report full year sales of $22.26 billion for the current year, with estimates ranging from $21.96 billion to $22.66 billion. For the next year, analysts forecast that the firm will post sales of $23.42 billion per share, with estimates ranging from $22.61 billion to $24.48 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Lear.
Lear (NYSE:LEA) last released its quarterly earnings results on Thursday, April 26th. The auto parts company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.91 by $0.19. Lear had a net margin of 6.40% and a return on equity of 29.40%. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period last year, the firm earned $4.27 earnings per share. Lear’s revenue for the quarter was up 14.7% compared to the same quarter last year.
LEA has been the topic of a number of recent research reports. Barclays reaffirmed a “hold” rating and set a $200.00 price target on shares of Lear in a research report on Sunday, January 21st. Zacks Investment Research lowered shares of Lear from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Robert W. Baird reaffirmed a “buy” rating and set a $213.00 price target on shares of Lear in a research report on Friday, January 26th. Jefferies Group reaffirmed a “buy” rating and set a $231.00 price target on shares of Lear in a research report on Monday, January 29th. Finally, Guggenheim set a $206.00 price target on shares of Lear and gave the stock a “hold” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $198.33.
In other news, SVP Mel Stephens sold 17,006 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $193.00, for a total value of $3,282,158.00. Following the sale, the senior vice president now directly owns 15,694 shares in the company, valued at approximately $3,028,942. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jay K. Kunkel sold 6,694 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $190.14, for a total transaction of $1,272,797.16. Following the completion of the sale, the insider now owns 12,056 shares in the company, valued at $2,292,327.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 172,209 shares of company stock worth $32,792,456. Insiders own 0.43% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC boosted its stake in shares of Lear by 338.6% in the 1st quarter. Penserra Capital Management LLC now owns 614 shares of the auto parts company’s stock valued at $114,000 after purchasing an additional 474 shares in the last quarter. Cerebellum GP LLC acquired a new stake in shares of Lear in the 4th quarter valued at approximately $126,000. Atlantic Trust Group LLC boosted its stake in shares of Lear by 137.6% in the 1st quarter. Atlantic Trust Group LLC now owns 815 shares of the auto parts company’s stock valued at $152,000 after purchasing an additional 472 shares in the last quarter. Rational Advisors LLC acquired a new stake in shares of Lear in the 1st quarter valued at approximately $167,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Lear by 69.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,010 shares of the auto parts company’s stock valued at $178,000 after purchasing an additional 413 shares in the last quarter. Institutional investors own 95.70% of the company’s stock.
Lear traded down $0.91, reaching $201.76, during mid-day trading on Thursday, MarketBeat.com reports. 587,292 shares of the company’s stock were exchanged, compared to its average volume of 624,948. Lear has a one year low of $135.62 and a one year high of $203.81. The firm has a market cap of $13.38 billion, a price-to-earnings ratio of 11.87 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 1.34.
Lear declared that its board has approved a stock repurchase plan 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 purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 27th. Shareholders of record on Friday, June 8th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.39%. The ex-dividend date is Thursday, June 7th. Lear’s dividend payout ratio is currently 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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