Lear (LEA) Set to Announce Earnings on Tuesday

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

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

Lear Trading Up 2.2 %

Shares of Lear stock opened at $136.47 on Friday. Lear has a twelve month low of $117.79 and a twelve month high of $157.90. The firm’s 50-day moving average price is $138.81 and its 200 day moving average price is $135.86. The company has a current ratio of 1.35, a quick ratio of 1.04 and a debt-to-equity ratio of 0.54. 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.

Lear Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on LEA. Benchmark increased their target price on Lear from $188.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Wells Fargo & Company increased their target price on Lear from $130.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Barclays increased their target price on Lear from $170.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on Lear from $177.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, StockNews.com cut Lear from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.44.

Insiders Place Their Bets

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

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.