Lear Co. (NYSE:LEA) Expected to Announce Earnings of $4.06 Per Share

Equities analysts predict that Lear Co. (NYSE:LEA) will announce $4.06 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Lear’s earnings, with estimates ranging from $3.84 to $4.55. Lear posted earnings of $4.95 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 18%. The company is scheduled to announce its next earnings results on Thursday, July 25th.

According to Zacks, analysts expect that Lear will report full-year earnings of $17.59 per share for the current fiscal year, with EPS estimates ranging from $17.04 to $18.11. For the next year, analysts expect that the business will post earnings of $19.60 per share, with EPS estimates ranging from $18.22 to $20.87. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Lear.

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

Several brokerages recently commented on LEA. KeyCorp cut their price objective on Lear from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Morgan Stanley cut their price objective on Lear from $181.00 to $174.00 and set an “overweight” rating for the company in a report on Thursday, May 16th. Longbow Research reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Lear in a report on Wednesday, April 10th. ValuEngine lowered Lear from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 22nd. Finally, Seaport Global Securities began coverage on Lear in a report on Wednesday, February 13th. They issued a “buy” rating and a $199.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Lear currently has a consensus rating of “Buy” and a consensus price target of $175.07.

A number of large investors have recently added to or reduced their stakes in LEA. Norges Bank bought a new stake in Lear during the fourth quarter valued at about $653,026,000. Oregon Public Employees Retirement Fund grew its holdings in Lear by 11,007.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,898,551 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 4,854,451 shares during the period. Pzena Investment Management LLC bought a new stake in Lear during the fourth quarter valued at about $339,861,000. Massachusetts Financial Services Co. MA grew its holdings in Lear by 140.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,841,520 shares of the auto parts company’s stock valued at $349,110,000 after purchasing an additional 1,659,488 shares during the period. Finally, Harris Associates L P grew its holdings in Lear by 65.9% during the fourth 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. 89.37% of the stock is owned by institutional investors and hedge funds.

Shares of LEA traded up $0.20 during trading hours on Thursday, hitting $135.90. The stock had a trading volume of 544,300 shares, compared to its average volume of 696,276. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.34 and a quick ratio of 1.10. Lear has a 12 month low of $114.45 and a 12 month high of $203.78. The firm has a market capitalization of $8.42 billion, a P/E ratio of 7.46, a PEG ratio of 3.11 and a beta of 1.41.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, June 6th. Lear’s dividend payout ratio is presently 16.47%.

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.

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Earnings History and Estimates for Lear (NYSE:LEA)

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