Jefferies Financial Group Equities Analysts Lower Earnings Estimates for Lear Co. (NYSE:LEA)

Lear Co. (NYSE:LEA) – Equities researchers at Jefferies Financial Group cut their Q3 2019 EPS estimates for Lear in a research report issued on Thursday, October 17th. Jefferies Financial Group analyst D. Kelley now anticipates that the auto parts company will post earnings per share of $3.16 for the quarter, down from their previous forecast of $3.39. Jefferies Financial Group also issued estimates for Lear’s FY2019 earnings at $14.56 EPS, Q2 2020 earnings at $4.08 EPS, Q3 2020 earnings at $3.85 EPS, Q4 2020 earnings at $4.24 EPS and FY2020 earnings at $16.29 EPS.

A number of other brokerages also recently weighed in on LEA. TheStreet downgraded Lear from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Buckingham Research cut their target price on Lear from $140.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada downgraded Lear from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $160.00 to $135.00 in a research note on Wednesday, July 17th. Citigroup cut their target price on Lear from $144.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Finally, KeyCorp cut their target price on Lear from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. Lear presently has an average rating of “Hold” and a consensus target price of $151.27.

Shares of NYSE LEA opened at $125.00 on Monday. Lear has a twelve month low of $105.10 and a twelve month high of $160.00. The stock’s 50 day moving average price is $117.85 and its 200-day moving average price is $128.95. The company has a market capitalization of $7.35 billion, a PE ratio of 6.86, a PEG ratio of 3.26 and a beta of 1.48. The company has a quick ratio of 1.09, a current ratio of 1.34 and a debt-to-equity ratio of 0.52.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, July 26th. The auto parts company reported $3.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.82 by ($0.04). Lear had a net margin of 4.38% and a return on equity of 23.18%. The company had revenue of $5.01 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the firm posted $4.95 EPS. Lear’s revenue for the quarter was down 10.3% on a year-over-year basis.

A number of institutional investors have recently bought and sold shares of LEA. Pzena Investment Management LLC lifted its stake in Lear by 46.9% in the second quarter. Pzena Investment Management LLC now owns 3,834,303 shares of the auto parts company’s stock valued at $534,003,000 after purchasing an additional 1,223,567 shares during the last quarter. FMR LLC lifted its stake in Lear by 80.3% in the first quarter. FMR LLC now owns 1,312,921 shares of the auto parts company’s stock valued at $178,176,000 after purchasing an additional 584,719 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Lear by 1,220.8% in the second quarter. Nuveen Asset Management LLC now owns 391,246 shares of the auto parts company’s stock valued at $54,489,000 after purchasing an additional 361,624 shares during the last quarter. Invesco Ltd. lifted its stake in Lear by 482.8% in the second quarter. Invesco Ltd. now owns 414,921 shares of the auto parts company’s stock valued at $57,786,000 after purchasing an additional 343,724 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in Lear by 83.4% in the second quarter. Panagora Asset Management Inc. now owns 359,839 shares of the auto parts company’s stock valued at $50,115,000 after purchasing an additional 163,646 shares during the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

See Also: Cash Flow

Earnings History and Estimates for Lear (NYSE:LEA)

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