Lear (NYSE:LEA) Issues Earnings Results

Lear (NYSE:LEA - Get Free Report) released its quarterly earnings results on Tuesday. The auto parts company reported $3.12 EPS for the quarter, topping analysts' consensus estimates of $2.64 by $0.48, Zacks reports. Lear had a return on equity of 14.70% and a net margin of 2.17%. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.47 billion. During the same quarter last year, the firm posted $3.18 earnings per share. Lear's revenue was down 7.2% compared to the same quarter last year.

Lear Price Performance

Shares of LEA stock traded down $2.20 during trading on Tuesday, hitting $86.17. The company had a trading volume of 862,924 shares, compared to its average volume of 737,214. Lear has a 52 week low of $73.85 and a 52 week high of $133.56. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 0.49 and a beta of 1.30. The company has a quick ratio of 1.02, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock's 50-day moving average is $87.66 and its two-hundred day moving average is $93.43.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Thursday, March 6th were paid a $0.77 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.08 dividend on an annualized basis and a yield of 3.57%. Lear's dividend payout ratio is currently 34.45%.

Insiders Place Their Bets

In other news, Director Rod Lache acquired 2,178 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $91.80 per share, with a total value of $199,940.40. Following the acquisition, the director now owns 2,178 shares in the company, valued at approximately $199,940.40. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.91% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup began coverage on shares of Lear in a report on Wednesday, April 23rd. They issued a "buy" rating and a $123.00 price target for the company. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $84.00 target price (down from $117.00) on shares of Lear in a research note on Thursday, April 10th. Barclays downgraded Lear from an "equal weight" rating to a "negative" rating in a research note on Tuesday, April 15th. UBS Group reduced their price objective on Lear from $102.00 to $83.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Cowen lowered Lear from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $113.91.

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.