Lear Corporation (LEA) To Go Ex-Dividend on September 2nd

Lear Corporation (NYSE:LEA) declared a quarterly dividend on Thursday, August 13th. Investors of record on Wednesday, September 2nd will be given a dividend of 0.77 per share by the auto parts company on Tuesday, September 22nd. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, September 2nd.

Lear has increased its dividend by an average of 0.2%per year over the last three years. Lear has a payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lear to earn $16.62 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 18.5%.

Lear Stock Performance

Shares of LEA stock opened at $124.16 on Monday. The company has a market capitalization of $6.12 billion, a P/E ratio of 11.57, a PEG ratio of 0.60 and a beta of 1.25. Lear has a fifty-two week low of $96.04 and a fifty-two week high of $150.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.04 and a current ratio of 1.31. The stock has a 50 day moving average price of $132.30 and a two-hundred day moving average price of $131.09.

Lear (NYSE:LEA) last issued its earnings results on Friday, July 31st. The auto parts company reported $4.28 EPS for the quarter, topping the consensus estimate of $3.98 by $0.30. The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.15 billion. Lear had a net margin of 2.35% and a return on equity of 14.18%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.06 earnings per share. Analysts expect that Lear will post 14.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LEA. Royal Bank Of Canada upped their price target on Lear from $138.00 to $143.00 and gave the company a “sector perform” rating in a research report on Monday, July 13th. Wells Fargo & Company raised their price target on Lear from $137.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Morgan Stanley set a $130.00 price objective on shares of Lear in a research report on Monday, May 4th. TD Cowen raised shares of Lear from a “hold” rating to a “buy” rating and raised their target price for the stock from $138.00 to $165.00 in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Lear from $153.00 to $159.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Lear presently has a consensus rating of “Hold” and an average price target of $145.23.

About Lear

Lear Corporation (NYSE: LEA) is a global supplier of automotive seating and electrical distribution systems. The company designs, engineers and manufactures complete seat systems, seat components and power solutions for major vehicle manufacturers. Its electrical business delivers modules and components for battery management, infotainment, body and safety electronics, as well as advanced connectivity and electrification solutions.

The seating division develops lightweight, ergonomic seat structures, trim and mechanisms that address comfort, safety and environmental targets.