Zacks: Analysts Anticipate Lear Co. (NYSE:LEA) to Post $4.06 Earnings Per Share

Equities research analysts expect Lear Co. (NYSE:LEA) to announce earnings per share of $4.06 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Lear’s earnings, with the lowest EPS estimate coming in at $3.84 and the highest estimate coming in at $4.55. Lear posted earnings of $4.95 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 18%. The business is scheduled to report its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that Lear will report full-year earnings of $17.59 per share for the current financial year, with EPS estimates ranging from $17.04 to $18.11. For the next year, analysts anticipate that the company will report earnings of $19.60 per share, with EPS estimates ranging from $18.22 to $20.87. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Lear.

Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, April 26th. The auto parts company reported $4.00 earnings per share for the quarter, missing analysts’ consensus estimates of $4.06 by ($0.06). Lear had a return on equity of 25.28% and a net margin of 4.94%. The business had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the company earned $5.10 EPS. The company’s revenue for the quarter was down 10.0% compared to the same quarter last year.

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

Shares of Lear stock traded up $1.65 during trading hours on Thursday, reaching $136.85. 15,512 shares of the company’s stock were exchanged, compared to its average volume of 658,021. Lear has a 52-week low of $114.45 and a 52-week high of $206.36. The firm has a market cap of $8.51 billion, a PE ratio of 7.50, a P/E/G ratio of 3.03 and a beta of 1.40. The company has a quick ratio of 1.10, a current ratio of 1.34 and a debt-to-equity ratio of 0.44.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.19%. Lear’s dividend payout ratio is presently 16.47%.

Several institutional investors have recently made changes to their positions in LEA. Norges Bank acquired a new stake in shares of Lear during the fourth quarter valued at about $653,026,000. Oregon Public Employees Retirement Fund grew its stake in shares of 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 acquiring an additional 4,854,451 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in shares of Lear during the fourth quarter valued at about $339,861,000. Massachusetts Financial Services Co. MA grew its stake in shares of 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 acquiring an additional 1,659,488 shares in the last quarter. Finally, Harris Associates L P grew its stake in shares of 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 acquiring an additional 1,360,164 shares in the last quarter. Institutional investors own 89.37% of the company’s stock.

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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