Lear (LEA) Scheduled to Post Quarterly Earnings on Tuesday

Lear (NYSE:LEA) is scheduled to issue 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 registering for the company’s conference call can do so using this link.

Lear (NYSE:LEA) last released its earnings results 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). The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.69 billion. Lear had a return on equity of 14.09% and a net margin of 2.44%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm 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 Stock Up 2.2 %

LEA stock opened at $136.47 on Monday. The stock has a market capitalization of $7.77 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.34 and a beta of 1.54. The firm has a 50-day simple moving average of $138.81 and a 200-day simple moving average of $135.83. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. Lear has a 52 week low of $117.79 and a 52 week high of $157.90.

Lear Dividend Announcement

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

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LEA shares. Barclays boosted their price target on shares of Lear from $170.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Morgan Stanley boosted their price target on shares of Lear from $140.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. StockNews.com lowered shares of Lear from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. Benchmark boosted their target price on shares of Lear from $188.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, January 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Lear from $130.00 to $134.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.