Lear Corporation (NYSE:LEA) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Saturday.
Several other equities analysts have also recently weighed in on the company. Bank of America Corporation cut Lear Corporation from a “neutral” rating to an “underperform” rating and cut their price target for the company from $135.00 to $110.00 in a report on Friday. Morgan Stanley cut Lear Corporation from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $149.00 to $142.00 in a report on Thursday, June 8th. Seaport Global Securities upgraded Lear Corporation from a “neutral” rating to a “buy” rating and set a $163.00 target price for the company in a report on Thursday, May 4th. Royal Bank Of Canada reiterated a “hold” rating and issued a $149.00 target price on shares of Lear Corporation in a report on Thursday, April 27th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $134.00 target price (down previously from $138.00) on shares of Lear Corporation in a report on Saturday, April 22nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $143.75.
Shares of Lear Corporation (LEA) traded down 4.21% during mid-day trading on Friday, reaching $138.45. The company’s stock had a trading volume of 1,565,568 shares. Lear Corporation has a 12-month low of $97.35 and a 12-month high of $153.28. The stock has a market capitalization of $9.54 billion, a P/E ratio of 9.63 and a beta of 1.23. The company’s 50-day moving average price is $144.99 and its 200-day moving average price is $140.63.
Lear Corporation (NYSE:LEA) last released its quarterly earnings results on Wednesday, April 26th. The auto parts company reported $4.27 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.32. The business had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.93 billion. Lear Corporation had a return on equity of 32.76% and a net margin of 5.46%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.40 EPS. On average, equities research analysts forecast that Lear Corporation will post $16.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Friday, June 9th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, June 7th. Lear Corporation’s dividend payout ratio is currently 13.90%.
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In related news, Director Greg C. Smith sold 2,266 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $145.12, for a total transaction of $328,841.92. Following the completion of the sale, the director now directly owns 13,885 shares of the company’s stock, valued at approximately $2,014,991.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Parallel Advisors LLC acquired a new stake in shares of Lear Corporation during the fourth quarter worth about $142,000. Cantab Capital Partners LLP raised its stake in shares of Lear Corporation by 27.6% in the fourth quarter. Cantab Capital Partners LLP now owns 7,834 shares of the auto parts company’s stock worth $1,037,000 after buying an additional 1,695 shares in the last quarter. Credit Agricole S A raised its stake in shares of Lear Corporation by 14.1% in the fourth quarter. Credit Agricole S A now owns 89,087 shares of the auto parts company’s stock worth $11,792,000 after buying an additional 10,995 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Lear Corporation during the fourth quarter worth about $357,000. Finally, Asset Management One Co. Ltd. raised its stake in shares of Lear Corporation by 942.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 144,177 shares of the auto parts company’s stock worth $19,087,000 after buying an additional 130,340 shares in the last quarter. 96.85% of the stock is owned by hedge funds and other institutional investors.
Lear Corporation Company Profile
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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