Lear Corporation (LEA) To Go Ex-Dividend on December 10th

Lear Corporation (NYSE:LEA) announced a quarterly dividend on Thursday, November 20th. Stockholders of record on Wednesday, December 10th will be given a dividend of 0.77 per share by the auto parts company on Tuesday, December 30th. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, December 10th.

Lear has increased its dividend by an average of 0.0%per year over the last three years. Lear has a payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lear to earn $14.97 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 20.6%.

Lear Stock Down 1.1%

NYSE:LEA opened at $107.70 on Monday. The stock’s fifty day moving average price is $103.93 and its two-hundred day moving average price is $101.48. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 0.92 and a beta of 1.33. Lear has a 52-week low of $73.85 and a 52-week high of $113.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.35.

Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, October 31st. The auto parts company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.63 billion. Lear had a return on equity of 13.44% and a net margin of 1.92%.The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.89 earnings per share. On average, analysts anticipate that Lear will post 12.89 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on LEA. Weiss Ratings restated a “hold (c)” rating on shares of Lear in a report on Wednesday, October 8th. Wall Street Zen cut Lear from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. TD Cowen increased their target price on Lear from $115.00 to $117.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. UBS Group decreased their target price on Lear from $109.00 to $106.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Finally, Citigroup reiterated a “neutral” rating on shares of Lear in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $119.60.

About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.