FY2016 EPS Estimates for Lear Corp. Increased by Northcoast Research (LEA)
Lear Corp. (NYSE:LEA) – Analysts at Northcoast Research lifted their FY2016 earnings estimates for shares of Lear Corp. in a report released on Wednesday. Northcoast Research analyst B. Keller now forecasts that the brokerage will post earnings per share of $13.29 for the year, up from their prior forecast of $13.11.
Lear Corp. (NYSE:LEA) last released its earnings results on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.32 by $0.34. The company earned $4.70 billion during the quarter, compared to the consensus estimate of $4.86 billion. Lear Corp. had a net margin of 5.14% and a return on equity of 31.69%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.82 EPS.
Several other research firms also recently commented on LEA. Zacks Investment Research downgraded shares of Lear Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Barclays PLC set a $127.00 target price on shares of Lear Corp. and gave the stock a “hold” rating in a research report on Monday, August 1st. Seaport Global Securities initiated coverage on shares of Lear Corp. in a research report on Tuesday, August 9th. They issued a “neutral” rating for the company. Robert W. Baird assumed coverage on shares of Lear Corp. in a research report on Monday. They issued a “neutral” rating and a $133.00 target price for the company. Finally, Bank of America Corp. downgraded shares of Lear Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Lear Corp. presently has a consensus rating of “Hold” and a consensus target price of $127.40.
Lear Corp. (NYSE:LEA) opened at 116.39 on Thursday. Lear Corp. has a 12-month low of $93.54 and a 12-month high of $127.00. The stock has a 50 day moving average of $117.94 and a 200 day moving average of $113.54. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 9.31 and a beta of 1.22.
Several institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its position in shares of Lear Corp. by 164.8% in the third quarter. Advisory Services Network LLC now owns 850 shares of the company’s stock worth $103,000 after buying an additional 529 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock worth $104,000 after buying an additional 26 shares in the last quarter. Societe Generale acquired a new position in shares of Lear Corp. during the second quarter worth about $121,000. Assetmark Inc. boosted its position in shares of Lear Corp. by 8,535.3% in the second quarter. Assetmark Inc. now owns 1,468 shares of the company’s stock worth $150,000 after buying an additional 1,451 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Lear Corp. by 9.4% in the second quarter. Pacer Advisors Inc. now owns 1,509 shares of the company’s stock worth $154,000 after buying an additional 130 shares in the last quarter. Institutional investors own 94.70% of the company’s stock.
In other news, Director Jonathan F. Foster sold 1,500 shares of the stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total value of $178,860.00. Following the completion of the transaction, the director now owns 4,025 shares in the company, valued at approximately $479,941. The sale was disclosed in a filing with the SEC, which is available at this link. 0.33% of the stock is currently owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Tuesday, August 30th. Lear Corp.’s dividend payout ratio is 9.58%.
Lear Corp. 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 operates through two segments: seating and electrical.
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