Lear Corporation (NYSE:LEA) Plans Quarterly Dividend of $0.77

Key Points

• Lear Corporation has declared a quarterly dividend of $0.77 per share, with investors of record on September 3rd set to receive payments on September 23rd, representing an annualized yield of 3.0%.
• The company reported earnings per share (EPS) of $3.47 for the last quarter, exceeding estimates and indicating a year-over-year revenue growth of 0.3%.
• Various analysts have adjusted their price targets for Lear, with a consensus rating of "Hold" and an average price target of $113.00.

Lear Corporation (NYSE:LEA - Get Free Report) declared a quarterly dividend on Thursday, August 14th, RTT News reports. Investors of record on Wednesday, September 3rd will be paid a dividend of 0.77 per share by the auto parts company on Tuesday, September 23rd. This represents a c) annualized dividend and a dividend yield of 3.0%.

Lear has a dividend payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lear to earn $14.97 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 20.6%.

Lear Trading Up 0.2%

Shares of NYSE LEA traded up $0.19 during midday trading on Thursday, hitting $103.42. 571,743 shares of the company traded hands, compared to its average volume of 722,203. Lear has a 12-month low of $73.85 and a 12-month high of $119.10. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.34. The stock has a 50-day moving average price of $98.42 and a 200 day moving average price of $93.13. The firm has a market cap of $5.50 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.63 and a beta of 1.30.

Lear (NYSE:LEA - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The auto parts company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.24. Lear had a net margin of 2.05% and a return on equity of 13.94%. The company had revenue of $6.03 billion for the quarter, compared to analysts' expectations of $5.89 billion. During the same quarter in the previous year, the company earned $3.60 earnings per share. Lear's quarterly revenue was up .3% on a year-over-year basis. As a group, analysts expect that Lear will post 12.89 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Bank of America upped their price objective on shares of Lear from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Morgan Stanley cut their price objective on shares of Lear from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. UBS Group cut their price objective on shares of Lear from $116.00 to $109.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Wall Street Zen cut shares of Lear from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Lear from $119.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $113.00.

About Lear

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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