Lear Corporation (NYSE:LEA) Plans Quarterly Dividend of $0.77

Lear Corporation (NYSE:LEA) declared 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) dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 10th.

Lear has raised its dividend by an average of 0.0%per year over the last three years. Lear has a payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Research 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 Performance

NYSE:LEA opened at $99.34 on Friday. The stock has a market cap of $5.15 billion, a P/E ratio of 11.59, a PEG ratio of 0.82 and a beta of 1.38. The company has a quick ratio of 1.07, a current ratio of 1.34 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $103.18 and its two-hundred day moving average price is $100.14. Lear has a twelve month low of $73.85 and a twelve month high of $113.10.

Lear (NYSE:LEA) last posted its quarterly earnings data on Friday, October 31st. The auto parts company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.03. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Lear had a net margin of 2.05% and a return on equity of 13.94%. Lear’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.89 earnings per share. Lear has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Lear will post 12.89 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on LEA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lear in a report on Wednesday, October 8th. UBS Group dropped their price target on Lear from $109.00 to $106.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Citigroup reiterated a “neutral” rating on shares of Lear in a report on Tuesday, October 14th. Wells Fargo & Company raised their price objective on Lear from $108.00 to $112.00 and gave the company an “equal weight” rating in a report on Monday, November 3rd. Finally, Bank of America lowered Lear from a “buy” rating to a “neutral” rating and cut their target price for the stock from $135.00 to $123.00 in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $118.60.

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.