Lear (LEA) Set to Announce Earnings on Tuesday

Lear (NYSE:LEA) will be issuing its quarterly earnings data before the market opens on Tuesday, April 30th. Analysts expect the company to announce earnings of $3.15 per share for the quarter. Lear has set its FY 2024 guidance at EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Lear (NYSE:LEA) last posted its quarterly earnings data on Tuesday, February 6th. The auto parts company reported $3.03 EPS for the quarter, missing analysts’ consensus estimates of $3.12 by ($0.09). Lear had a net margin of 2.44% and a return on equity of 14.09%. The company had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.69 billion. During the same quarter in the prior year, the business earned $2.81 EPS. Lear’s revenue was up 8.8% compared to the same quarter last year. On average, analysts expect Lear to post $15 EPS for the current fiscal year and $19 EPS for the next fiscal year.

Lear Price Performance

NYSE LEA opened at $136.47 on Friday. Lear has a 12 month low of $117.79 and a 12 month 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 has a market capitalization of $7.77 billion, a PE ratio of 14.10, a P/E/G ratio of 0.33 and a beta of 1.54. The company’s 50 day simple moving average is $138.81 and its 200 day simple moving average is $135.86.

Lear Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Thursday, March 7th. Lear’s payout ratio is 31.82%.

Insider Buying and Selling

In related news, CFO Jason M. Cardew sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total value of $387,227.50. Following the completion of the transaction, the chief financial officer now owns 17,506 shares of the company’s stock, valued at approximately $2,465,019.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lear news, CFO Jason M. Cardew sold 2,750 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $140.81, for a total value of $387,227.50. Following the completion of the sale, the chief financial officer now owns 17,506 shares in the company, valued at approximately $2,465,019.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Raymond E. Scott sold 10,652 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $132.86, for a total transaction of $1,415,224.72. Following the completion of the sale, the chief executive officer now owns 13,627 shares of the company’s stock, valued at approximately $1,810,483.22. The disclosure for this sale can be found here. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

LEA has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Lear from $177.00 to $179.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Benchmark raised their target price on shares of Lear from $188.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Morgan Stanley raised their target price on shares of Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. StockNews.com cut shares of Lear from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. Finally, Wells Fargo & Company raised their target price on shares of Lear from $130.00 to $134.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Lear presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.44.

About Lear

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.