Lear (LEA) to Release Quarterly Earnings on Tuesday

Lear (NYSE:LEA) will be releasing its earnings data before the market opens on Tuesday, April 30th. Analysts expect Lear to post earnings of $3.15 per share for the quarter. Lear has set its FY 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Lear (NYSE:LEA) last released its quarterly earnings data on Tuesday, February 6th. The auto parts company reported $3.03 earnings per share for the quarter, missing the consensus estimate of $3.12 by ($0.09). The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.69 billion. Lear had a net margin of 2.44% and a return on equity of 14.09%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.81 earnings per share. On average, analysts expect Lear to post $15 EPS for the current fiscal year and $19 EPS for the next fiscal year.

Lear Stock Up 1.0 %

Lear stock opened at $134.18 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. The firm has a market cap of $7.64 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.33 and a beta of 1.54. The business has a fifty day moving average of $138.87 and a two-hundred day moving average of $135.89. Lear has a twelve month low of $117.79 and a twelve month high of $157.90.

Lear Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Thursday, March 7th. Lear’s payout ratio is currently 31.82%.

Wall Street Analyst Weigh In

A number of research firms have commented on LEA. Morgan Stanley increased their price target on Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. lifted their target price on shares of Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday. Benchmark upped their price target on shares of Lear from $188.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. StockNews.com cut shares of Lear from a “buy” rating to a “hold” rating in a report on Monday. Finally, Barclays boosted their price objective on shares of Lear from $170.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.44.

Insider Activity

In related news, CEO Raymond E. Scott sold 10,652 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the sale, the chief executive officer now directly owns 13,627 shares of the company’s stock, valued at $1,810,483.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Raymond E. Scott sold 10,652 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $132.86, for a total value of $1,415,224.72. Following the completion of the transaction, the chief executive officer now directly owns 13,627 shares in the company, valued at approximately $1,810,483.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jason M. Cardew sold 2,750 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total transaction of $387,227.50. Following the sale, the chief financial officer now owns 17,506 shares in the company, valued at approximately $2,465,019.86. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

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.