Lear Corp. (LEA) Downgraded by Royal Bank Of Canada to Sector Perform
Royal Bank Of Canada downgraded shares of Lear Corp. (NYSE:LEA) from an outperform rating to a sector perform rating in a research report sent to investors on Friday morning. They currently have $121.00 price target on the stock, up from their prior price target of $120.00.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Lear Corp. from a hold rating to a buy rating and set a $136.00 price objective on the stock in a research report on Tuesday, October 4th. Citigroup Inc. upped their price target on shares of Lear Corp. from $145.00 to $153.00 and gave the company a buy rating in a research note on Tuesday, August 2nd. Barclays PLC set a $127.00 price target on shares of Lear Corp. and gave the company a hold rating in a research note on Monday, August 1st. Seaport Global Securities started coverage on shares of Lear Corp. in a research note on Tuesday, August 9th. They issued a neutral rating on the stock. Finally, Bank of America Corp. downgraded shares of Lear Corp. from a buy rating to a neutral rating in a research note on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $125.45.
Shares of Lear Corp. (NYSE:LEA) traded up 0.81% during trading on Friday, hitting $117.00. 180,042 shares of the company’s stock were exchanged. Lear Corp. has a 1-year low of $93.54 and a 1-year high of $127.00. The stock’s 50-day moving average price is $117.96 and its 200-day moving average price is $113.58. The stock has a market cap of $8.37 billion, a PE ratio of 9.36 and a beta of 1.22.
Lear Corp. (NYSE:LEA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $3.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.32 by $0.34. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $2.82 earnings per share. On average, equities analysts expect that Lear Corp. will post $13.27 earnings per share for the current fiscal year.
The business 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. 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 currently 9.58%.
In other news, Director Jonathan F. Foster sold 1,500 shares of Lear Corp. 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 sale, the director now owns 4,025 shares in the company, valued at approximately $479,941. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC increased its stake in Lear Corp. by 164.8% in the third quarter. Advisory Services Network LLC now owns 850 shares of the company’s stock valued at $103,000 after buying an additional 529 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in Lear Corp. by 2.6% in the second quarter. Checchi Capital Advisers LLC now owns 1,023 shares of the company’s stock valued at $104,000 after buying an additional 26 shares during the last quarter. Societe Generale acquired a new stake in Lear Corp. during the second quarter valued at about $121,000. Assetmark Inc. increased its stake in Lear Corp. by 8,535.3% in the second quarter. Assetmark Inc. now owns 1,468 shares of the company’s stock valued at $150,000 after buying an additional 1,451 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Lear Corp. by 9.4% in the second quarter. Pacer Advisors Inc. now owns 1,509 shares of the company’s stock valued at $154,000 after buying an additional 130 shares during the last quarter. 94.70% of the stock is owned by institutional investors and hedge funds.
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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