Lear (NYSE:LEA) PT Lowered to $150.00 at KeyCorp

Lear (NYSE:LEA) had its price objective reduced by KeyCorp from $160.00 to $150.00 in a research note issued to investors on Monday morning, AnalystRatings.com reports. They currently have an overweight rating on the auto parts company’s stock. KeyCorp also issued estimates for Lear’s Q3 2019 earnings at $3.25 EPS, FY2019 earnings at $14.55 EPS and FY2020 earnings at $15.95 EPS.

LEA has been the topic of a number of other research reports. UBS Group lowered Lear from a buy rating to a neutral rating and lowered their price target for the stock from $158.00 to $135.00 in a report on Thursday, September 12th. ValuEngine lowered Lear from a sell rating to a strong sell rating in a report on Wednesday, July 17th. Credit Suisse Group lowered their price target on Lear from $155.00 to $130.00 and set a neutral rating on the stock in a report on Monday, July 29th. Morgan Stanley lowered their price target on Lear from $165.00 to $143.00 and set an overweight rating on the stock in a report on Wednesday, August 14th. Finally, Royal Bank of Canada lowered Lear from an outperform rating to a sector perform rating and lowered their price target for the stock from $160.00 to $135.00 in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $153.60.

LEA opened at $111.05 on Monday. The business’s 50-day simple moving average is $115.28 and its 200-day simple moving average is $130.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.09 and a current ratio of 1.34. Lear has a one year low of $105.10 and a one year high of $160.00. The stock has a market capitalization of $6.94 billion, a P/E ratio of 6.09, a price-to-earnings-growth ratio of 3.05 and a beta of 1.48.

Lear (NYSE:LEA) last released its quarterly earnings results on Friday, July 26th. The auto parts company reported $3.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.82 by ($0.04). Lear had a return on equity of 23.18% and a net margin of 4.38%. The company had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the business earned $4.95 EPS. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Lear will post 14.94 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Thursday, August 29th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Wednesday, August 28th. Lear’s dividend payout ratio is presently 16.47%.

A number of institutional investors and hedge funds have recently made changes to their positions in LEA. Oakworth Capital Inc. purchased a new stake in Lear in the 2nd quarter valued at approximately $26,000. Meridian Wealth Management LLC purchased a new stake in shares of Lear during the 1st quarter worth approximately $28,000. NEXT Financial Group Inc boosted its stake in shares of Lear by 64.8% during the 2nd quarter. NEXT Financial Group Inc now owns 422 shares of the auto parts company’s stock worth $59,000 after acquiring an additional 166 shares in the last quarter. Clear Perspective Advisors LLC purchased a new stake in shares of Lear during the 2nd quarter worth approximately $75,000. Finally, Private Ocean LLC purchased a new stake in shares of Lear during the 2nd quarter worth approximately $77,000. 89.20% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Lear (NYSE:LEA)

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