Q3 2016 Earnings Forecast for Lear Corp. (LEA) Issued By Northcoast Research
Lear Corp. (NYSE:LEA) – Equities researchers at Northcoast Research lifted their Q3 2016 EPS estimates for Lear Corp. in a note issued to investors on Wednesday. Northcoast Research analyst B. Keller now expects that the firm will post earnings per share of $2.94 for the quarter, up from their previous forecast of $2.81. Northcoast Research also issued estimates for Lear Corp.’s Q4 2016 earnings at $3.30 EPS.
A number of other brokerages have also recently commented on LEA. Goldman Sachs Group Inc. cut shares of Lear Corp. from a “neutral” rating to a “sell” rating and cut their target price for the company from $116.00 to $107.00 in a report on Thursday, October 6th. Zacks Investment Research cut shares of Lear Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Robert W. Baird initiated coverage on shares of Lear Corp. in a research note on Monday, October 10th. They issued a “neutral” rating and a $133.00 price objective on the stock. Bank of America Corp. cut shares of Lear Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 21st. Finally, Royal Bank Of Canada cut shares of Lear Corp. from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $120.00 to $121.00 in a research note on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Lear Corp. has an average rating of “Hold” and a consensus price target of $125.45.
Lear Corp. (NYSE:LEA) opened at 116.06 on Friday. Lear Corp. has a 1-year low of $93.54 and a 1-year high of $127.00. The stock has a market capitalization of $8.30 billion, a P/E ratio of 9.29 and a beta of 1.22. The stock has a 50 day moving average of $117.96 and a 200 day moving average of $113.58.
Lear Corp. (NYSE:LEA) last posted its quarterly 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 firm had revenue of $4.70 billion for 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 for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $2.82 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. Lear Corp.’s dividend payout ratio is presently 9.58%.
In related news, Director Jonathan F. Foster sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $119.24, for a total value of $178,860.00. Following the sale, the director now directly owns 4,025 shares in the company, valued at approximately $479,941. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Lear Corp. by 4.5% in the first quarter. State Street Corp now owns 1,644,731 shares of the company’s stock worth $182,840,000 after buying an additional 71,570 shares during the period. Pegasus Partners Ltd. purchased a new position in Lear Corp. during the first quarter worth about $747,000. BB&T Securities LLC raised its position in Lear Corp. by 12.1% in the first quarter. BB&T Securities LLC now owns 2,346 shares of the company’s stock worth $260,000 after buying an additional 254 shares during the period. Credit Agricole S A raised its position in Lear Corp. by 52.9% in the first quarter. Credit Agricole S A now owns 42,146 shares of the company’s stock worth $4,686,000 after buying an additional 14,589 shares during the period. Finally, Aviva PLC raised its position in Lear Corp. by 0.7% in the first quarter. Aviva PLC now owns 38,425 shares of the company’s stock worth $4,272,000 after buying an additional 255 shares during the period. Institutional investors and hedge funds own 94.70% of the company’s stock.
About Lear Corp.
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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