Lear Co. (NYSE:LEA) – Equities researchers at Seaport Global Securities issued their Q2 2019 earnings estimates for shares of Lear in a research note issued to investors on Wednesday, February 13th. Seaport Global Securities analyst M. Ward anticipates that the auto parts company will post earnings per share of $4.70 for the quarter. Seaport Global Securities currently has a “Buy” rating and a $199.00 price objective on the stock. Seaport Global Securities also issued estimates for Lear’s Q1 2020 earnings at $4.56 EPS.
Lear (NYSE:LEA) last released its earnings results on Friday, January 25th. The auto parts company reported $4.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.09. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lear had a return on equity of 27.12% and a net margin of 5.37%. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.38 earnings per share.
LEA stock opened at $156.99 on Friday. The firm has a market cap of $9.81 billion, a PE ratio of 8.62, a PEG ratio of 3.42 and a beta of 1.40. Lear has a twelve month low of $114.45 and a twelve month high of $206.36. The company has a quick ratio of 1.13, a current ratio of 1.40 and a debt-to-equity ratio of 0.45.
Institutional investors have recently made changes to their positions in the stock. FMR LLC grew its stake in Lear by 23.3% in the second quarter. FMR LLC now owns 1,599,498 shares of the auto parts company’s stock valued at $297,203,000 after acquiring an additional 302,664 shares during the period. First Hawaiian Bank acquired a new position in Lear in the third quarter valued at about $383,000. Andra AP fonden grew its stake in Lear by 5.9% in the third quarter. Andra AP fonden now owns 39,400 shares of the auto parts company’s stock valued at $5,713,000 after acquiring an additional 2,200 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Lear in the third quarter valued at about $855,000. Finally, Seven Eight Capital LP acquired a new position in Lear in the third quarter valued at about $566,000. 96.53% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Terrence B. Larkin sold 18,985 shares of Lear stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $155.28, for a total transaction of $2,947,990.80. Following the completion of the sale, the executive vice president now directly owns 2,752 shares of the company’s stock, valued at $427,330.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.43% of the stock is owned by insiders.
Lear declared that its board has initiated a share repurchase plan on Thursday, February 7th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the auto parts company to purchase up to 15.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Friday, March 1st will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, February 28th. This is a boost from Lear’s previous quarterly dividend of $0.70. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.91%. Lear’s payout ratio is 15.37%.
Lear Company Profile
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components primarily to automotive original equipment manufacturers worldwide. The company operates through Seating and E-Systems segments. The Seating segment includes seat systems and related components, such as leather and fabric products, seat trim covers, recliner mechanisms, seat tracks, seat structures and mechanisms, seat foams, and headrests primarily for automobiles and light trucks, compact cars, and sport utility vehicles, as well as thermoelectric seat heating and cooling systems.
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