Lear (LEA) Issues Earnings Results, Misses Estimates By $0.04 EPS

Lear (NYSE:LEA) posted its quarterly earnings data on Thursday, July 26th. The auto parts company reported $4.95 EPS for the quarter, missing analysts’ consensus estimates of $4.99 by ($0.04), Bloomberg Earnings reports. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Lear had a return on equity of 28.84% and a net margin of 6.31%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.39 EPS.

Shares of NYSE:LEA opened at $172.61 on Friday. The stock has a market cap of $11.48 billion, a P/E ratio of 9.53 and a beta of 1.37. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44. Lear has a one year low of $141.00 and a one year high of $206.36.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Thursday, August 30th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 1.62%. Lear’s payout ratio is currently 16.47%.

A number of analysts recently commented on the company. Zacks Investment Research cut Lear from a “buy” rating to a “hold” rating in a research report on Saturday, May 26th. Barclays decreased their price target on Lear from $200.00 to $199.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 17th. Robert W. Baird raised their price target on Lear from $227.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, June 25th. They noted that the move was a valuation call. Evercore ISI raised Lear from an “in-line” rating to an “outperform” rating and set a $220.00 price target on the stock in a research note on Monday, May 14th. Finally, ValuEngine lowered Lear from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 21st. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $205.67.

In related news, Director Jonathan F. Foster sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $203.24, for a total transaction of $508,100.00. Following the sale, the director now directly owns 7,381 shares in the company, valued at approximately $1,500,114.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard Harold Bott sold 1,063 shares of the firm’s stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $202.35, for a total value of $215,098.05. Following the sale, the director now owns 1,852 shares in the company, valued at $374,752.20. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

A number of hedge funds have recently bought and sold shares of LEA. Townsend & Associates Inc purchased a new stake in Lear during the 2nd quarter worth approximately $113,000. Penserra Capital Management LLC increased its holdings in Lear by 338.6% during the 1st quarter. Penserra Capital Management LLC now owns 614 shares of the auto parts company’s stock worth $114,000 after purchasing an additional 474 shares during the last quarter. Squar Milner Financial Services LLC purchased a new stake in Lear during the 2nd quarter worth approximately $130,000. Signet Financial Management LLC bought a new stake in shares of Lear in the 2nd quarter valued at approximately $131,000. Finally, Atlantic Trust Group LLC increased its holdings 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 acquiring an additional 472 shares during the last quarter. Institutional investors own 92.47% of the company’s stock.

About Lear

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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Earnings History for Lear (NYSE:LEA)

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