$3.98 Earnings Per Share Expected for Lear Co. (NYSE:LEA) This Quarter

Wall Street analysts expect Lear Co. (NYSE:LEA) to post earnings of $3.98 per share for the current quarter, according to Zacks. Five analysts have made estimates for Lear’s earnings, with estimates ranging from $3.84 to $4.15. Lear posted earnings per share of $4.95 in the same quarter last year, which suggests a negative year-over-year growth rate of 19.6%. The firm is scheduled to report its next quarterly earnings results before the market opens on Friday, July 26th.

According to Zacks, analysts expect that Lear will report full year earnings of $17.45 per share for the current year, with EPS estimates ranging from $17.04 to $18.00. For the next financial year, analysts expect that the firm will report earnings of $19.39 per share, with EPS estimates ranging from $17.86 to $20.87. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Lear.

Lear (NYSE:LEA) last announced its earnings results on Friday, April 26th. The auto parts company reported $4.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.06 by ($0.06). Lear had a net margin of 4.94% and a return on equity of 25.28%. The firm had revenue of $5.16 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the company posted $5.10 EPS. The company’s revenue was down 10.0% compared to the same quarter last year.

Several brokerages have recently weighed in on LEA. Credit Suisse Group began coverage on shares of Lear in a research note on Wednesday. They issued a “neutral” rating and a $155.00 target price on the stock. Morgan Stanley set a $165.00 price target on shares of Lear and gave the stock a “buy” rating in a research note on Wednesday. Longbow Research set a $190.00 price target on shares of Lear and gave the stock a “buy” rating in a research note on Monday, June 24th. ValuEngine raised shares of Lear from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 12th. Finally, KeyCorp reduced their price target on shares of Lear from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $173.13.

Shares of LEA opened at $139.27 on Friday. Lear has a twelve month low of $114.45 and a twelve month high of $192.73. The stock has a market capitalization of $8.75 billion, a P/E ratio of 7.64, a P/E/G ratio of 3.22 and a beta of 1.41. The company has a current ratio of 1.34, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average price of $132.89.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Thursday, June 6th. Lear’s dividend payout ratio is presently 16.47%.

A number of hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in Lear during the 4th quarter valued at about $653,026,000. Harris Associates L P increased its position in Lear by 65.9% during the 4th quarter. Harris Associates L P now owns 3,424,807 shares of the auto parts company’s stock valued at $420,772,000 after purchasing an additional 1,360,164 shares during the period. Lord Abbett & CO. LLC purchased a new position in Lear during the 4th quarter valued at about $83,677,000. FMR LLC increased its position in Lear by 80.3% during the 1st quarter. FMR LLC now owns 1,312,921 shares of the auto parts company’s stock valued at $178,176,000 after purchasing an additional 584,719 shares during the period. Finally, Impala Asset Management LLC purchased a new position in Lear during the 1st quarter valued at about $40,885,000. 89.15% of the stock is currently owned by institutional investors.

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 worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

See Also: Dividend

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Earnings History and Estimates for Lear (NYSE:LEA)

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