Lear (LEA) Set to Announce Earnings on Friday

Lear (NYSE:LEA) is set to announce its earnings results before the market opens on Friday, May 7th. Analysts expect the company to announce earnings of $3.04 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Lear (NYSE:LEA) last issued its quarterly earnings results on Wednesday, February 3rd. The auto parts company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.47 by $0.19. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.02 billion. Lear had a return on equity of 6.17% and a net margin of 0.50%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.64 earnings per share. On average, analysts expect Lear to post $5 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Shares of LEA opened at $182.85 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.31 and a debt-to-equity ratio of 0.54. The business has a 50-day simple moving average of $181.95 and a two-hundred day simple moving average of $161.20. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 103.89, a PEG ratio of 0.82 and a beta of 1.62. Lear has a 52 week low of $87.76 and a 52 week high of $196.97.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 23rd. Shareholders of record on Thursday, March 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Wednesday, March 3rd. Lear’s payout ratio is 7.15%.

In other Lear news, SVP Thomas A. Didonato sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $184.14, for a total transaction of $3,682,800.00. Following the transaction, the senior vice president now directly owns 16,214 shares in the company, valued at approximately $2,985,645.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Raymond E. Scott sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $185.22, for a total value of $1,852,200.00. Following the transaction, the chief executive officer now owns 34,395 shares in the company, valued at $6,370,641.90. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

A number of analysts have commented on LEA shares. Guggenheim cut Lear from a “buy” rating to a “neutral” rating in a research report on Friday, January 8th. Wolfe Research reiterated a “peer perform” rating on shares of Lear in a research report on Tuesday, March 23rd. Jefferies Financial Group increased their target price on Lear from $186.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, April 6th. Wells Fargo & Company initiated coverage on Lear in a research note on Wednesday, March 31st. They set an “overweight” rating and a $214.00 price target for the company. Finally, Barclays reissued an “equal weight” rating and set a $184.00 price target on shares of Lear in a research note on Wednesday, April 21st. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $176.64.

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, key seat 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.

Further Reading: What are some reasons analysts would give stocks a buy rating?

Earnings History for Lear (NYSE:LEA)

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