Lear Corp. (LEA) Given Average Recommendation of “Hold” by Brokerages
Shares of Lear Corp. (NYSE:LEA) have earned an average rating of “Hold” from the fourteen ratings firms that are presently covering the company. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $125.18.
LEA has been the topic of several research reports. Barclays PLC set a $127.00 price objective on shares of Lear Corp. and gave the company a “hold” rating in a research note 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 initiated coverage on shares of Lear Corp. in a research report on Monday, October 10th. They issued a “neutral” rating and a $133.00 target price for the company. Zacks Investment Research downgraded shares of Lear Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. Finally, RBC Capital Markets downgraded shares of Lear Corp. from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $120.00 to $121.00 in a research report on Friday, October 14th. They noted that the move was a valuation call.
In other Lear Corp. 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 sale, the director now directly owns 4,025 shares of the company’s stock, valued at approximately $479,941. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC increased its stake 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 during the period. Checchi Capital Advisers LLC increased its stake 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 during the period. Global X Management Co. LLC increased its stake in shares of Lear Corp. by 65.9% in the third quarter. Global X Management Co. LLC now owns 934 shares of the company’s stock worth $113,000 after buying an additional 371 shares during the period. Societe Generale bought a new stake in shares of Lear Corp. during the second quarter worth $121,000. Finally, Financial Architects Inc increased its stake in shares of Lear Corp. by 5,882.4% in the third quarter. Financial Architects Inc now owns 1,017 shares of the company’s stock worth $123,000 after buying an additional 1,000 shares during the period. 95.88% of the stock is owned by hedge funds and other institutional investors.
Lear Corp. (NYSE:LEA) traded up 0.727% during midday trading on Friday, reaching $129.625. 139,524 shares of the company traded hands. Lear Corp. has a 12 month low of $93.54 and a 12 month high of $130.59. The firm has a 50 day moving average of $120.72 and a 200-day moving average of $115.63. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of 9.845 and a beta of 1.29.
Lear Corp. (NYSE:LEA) last released its quarterly earnings data on Wednesday, October 26th. The company reported $3.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.96 by $0.23. The firm had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.45 billion. Lear Corp. had a net margin of 5.26% and a return on equity of 31.86%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.56 EPS. Analysts forecast that Lear Corp. will post $13.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 9th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, December 7th. Lear Corp.’s dividend payout ratio (DPR) is presently 9.12%.
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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