Lear (NYSE:LEA) Announces Earnings Results

Lear (NYSE:LEA) issued its earnings results on Tuesday. The auto parts company reported $3.12 EPS for the quarter, topping the consensus estimate of $2.63 by $0.49, Zacks reports. Lear had a net margin of 2.17% and a return on equity of 14.70%. During the same quarter last year, the company posted $3.18 EPS. The firm’s revenue was down 7.2% compared to the same quarter last year.

Lear Trading Down 1.4 %

NYSE LEA traded down $1.28 during mid-day trading on Tuesday, reaching $87.09. 146,416 shares of the stock were exchanged, compared to its average volume of 734,453. The stock has a market capitalization of $4.66 billion, a PE ratio of 9.76, a PEG ratio of 0.49 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.32. Lear has a 1-year low of $73.85 and a 1-year high of $133.56. The business’s fifty day simple moving average is $87.66 and its 200 day simple moving average is $93.43.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 6th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Thursday, March 6th. Lear’s payout ratio is 34.45%.

Analyst Ratings Changes

A number of brokerages have issued reports on LEA. Citigroup initiated coverage on shares of Lear in a report on Wednesday, April 23rd. They issued a “buy” rating and a $123.00 target price for the company. TD Cowen downgraded Lear from a “buy” rating to a “hold” rating and set a $95.00 target price on the stock. in a research report on Friday, March 7th. UBS Group dropped their price target on Lear from $102.00 to $83.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Barclays lowered shares of Lear from an “equal weight” rating to a “negative” rating in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $84.00 target price (down from $117.00) on shares of Lear in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Lear presently has an average rating of “Hold” and a consensus target price of $113.91.

Insider Buying and Selling at Lear

In other Lear news, Director Rod Lache acquired 2,178 shares of the stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $91.80 per share, with a total value of $199,940.40. Following the completion of the transaction, the director now directly owns 2,178 shares in the company, valued at approximately $199,940.40. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.91% of the stock is currently owned by insiders.

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 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.