Lear (NYSE:LEA – Get Free Report) announced its earnings results on Tuesday. The auto parts company reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.14, Briefing.com reports. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $6 billion. Lear had a net margin of 2.44% and a return on equity of 14.09%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.78 EPS. Lear updated its FY 2024 guidance to EPS.
Lear Price Performance
Shares of NYSE LEA traded down $1.10 during trading on Wednesday, hitting $124.77. 828,395 shares of the company were exchanged, compared to its average volume of 558,301. Lear has a 1 year low of $117.79 and a 1 year high of $157.90. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 1.04. The firm’s fifty day moving average price is $138.83 and its 200 day moving average price is $135.84. The company has a market cap of $7.11 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 0.34 and a beta of 1.54.
Lear Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $3.08 annualized dividend and a dividend yield of 2.47%. Lear’s payout ratio is currently 31.82%.
Insider Buying and Selling
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Lear from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Benchmark boosted their price objective on shares of Lear from $188.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Barclays boosted their price objective on shares of Lear from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Lear from $130.00 to $134.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.44.
View Our Latest Stock Report on LEA
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.
Featured Articles
- Five stocks we like better than Lear
- Transportation Stocks Investing
- AMD is Down 35%. Now is the Time to Buy the Dip
- How Technical Indicators Can Help You Find Oversold StocksĀ
- Amazon Stands Tall: New Highs Are in Sight
- Using the MarketBeat Dividend Tax Calculator
- Chesapeake Energy Stock is The Energy Play, Earnings Confirm
Receive News & Ratings for Lear Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lear and related companies with MarketBeat.com's FREE daily email newsletter.