Lear (NYSE:LEA) Releases Earnings Results, Beats Estimates By $0.23 EPS

Lear (NYSE:LEA – Get Rating) posted its quarterly earnings data on Tuesday. The auto parts company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.23, MarketWatch Earnings reports. Lear had a return on equity of 9.99% and a net margin of 1.94%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the prior year, the business earned $3.73 EPS. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year.

Shares of NYSE:LEA opened at $137.34 on Thursday. Lear has a 52-week low of $123.28 and a 52-week high of $204.91. The firm has a market capitalization of $8.21 billion, a P/E ratio of 37.83, a P/E/G ratio of 0.37 and a beta of 1.47. The stock has a 50 day moving average price of $137.79 and a 200-day moving average price of $163.13. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.09 and a current ratio of 1.42.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 30th. Stockholders of record on Friday, March 11th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Thursday, March 10th. Lear’s dividend payout ratio is currently 84.85%.

Several equities research analysts recently weighed in on the company. Citigroup dropped their target price on Lear from $177.00 to $154.00 in a report on Tuesday, April 5th. BNP Paribas assumed coverage on Lear in a report on Monday, April 11th. They set an “underperform” rating and a $112.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their target price on Lear from $197.00 to $157.00 and set a “hold” rating for the company in a report on Thursday, April 21st. Exane BNP Paribas assumed coverage on Lear in a report on Monday, April 11th. They set an “underperform” rating for the company. Finally, Cowen dropped their target price on Lear from $203.00 to $180.00 in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $170.53.

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC bought a new position in Lear during the 4th quarter valued at approximately $33,000. Silvercrest Asset Management Group LLC bought a new position in Lear during the 4th quarter valued at approximately $220,000. EP Wealth Advisors LLC bought a new position in Lear during the 4th quarter valued at approximately $227,000. Virtu Financial LLC bought a new stake in shares of Lear in the 4th quarter worth $246,000. Finally, Forum Financial Management LP bought a new stake in shares of Lear in the 4th quarter worth $250,000. 95.46% of the stock is owned by institutional investors.

Lear Company Profile (Get Rating)

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.

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