Q3 2022 Earnings Estimate for Lear Co. (NYSE:LEA) Issued By Jefferies Financial Group

Lear Co. (NYSE:LEAGet Rating) – Analysts at Jefferies Financial Group dropped their Q3 2022 EPS estimates for shares of Lear in a research report issued on Wednesday, May 4th. Jefferies Financial Group analyst D. Kelley now forecasts that the auto parts company will earn $2.29 per share for the quarter, down from their prior estimate of $2.48.

Lear (NYSE:LEAGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The auto parts company reported $1.80 EPS for the quarter, missing the consensus estimate of $2.03 by ($0.23). The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.02 billion. Lear had a net margin of 1.94% and a return on equity of 9.99%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.73 earnings per share.

LEA has been the subject of a number of other research reports. Royal Bank of Canada dropped their price objective on Lear from $163.00 to $151.00 in a research report on Wednesday. Benchmark lifted their target price on shares of Lear from $198.00 to $206.00 in a research note on Wednesday, January 26th. Barclays decreased their price objective on Lear from $161.00 to $132.00 and set an “equal weight” rating on the stock in a report on Thursday, April 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lear from $197.00 to $157.00 and set a “hold” rating for the company in a research note on Thursday, April 21st. Finally, StockNews.com began coverage on shares of Lear in a report on Thursday, March 31st. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $170.53.

NYSE LEA opened at $137.34 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 37.83, a price-to-earnings-growth ratio of 0.37 and a beta of 1.47. Lear has a fifty-two week low of $123.28 and a fifty-two week high of $204.91. The business has a fifty day moving average of $137.79 and a 200-day moving average of $163.13.

Several institutional investors have recently added to or reduced their stakes in the company. Sandy Cove Advisors LLC acquired a new stake in Lear in the first quarter valued at $29,000. Van ECK Associates Corp increased its position in shares of Lear by 96.9% in the 3rd quarter. Van ECK Associates Corp now owns 191 shares of the auto parts company’s stock worth $30,000 after purchasing an additional 94 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Lear in the 4th quarter valued at about $32,000. Allworth Financial LP bought a new position in shares of Lear during the first quarter worth about $34,000. Finally, Signaturefd LLC grew its stake in Lear by 81.1% in the first quarter. Signaturefd LLC now owns 239 shares of the auto parts company’s stock worth $34,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 95.46% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Friday, March 11th were paid a dividend of $0.77 per share. The ex-dividend date was Thursday, March 10th. This represents a $3.08 dividend on an annualized basis and a yield of 2.24%. Lear’s dividend payout ratio (DPR) is presently 84.85%.

About Lear (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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