Lear (LEA) Set to Announce Quarterly Earnings on Thursday

Lear (NYSE:LEA) is scheduled to release its earnings data before the market opens on Thursday, October 24th. Analysts expect Lear to post earnings of $2.66 per share for the quarter. Lear has set its FY 2024 guidance at EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

Lear (NYSE:LEA) last issued its quarterly earnings data on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.26. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $6.02 billion. Lear had a net margin of 2.30% and a return on equity of 14.75%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the business posted $3.33 earnings per share. On average, analysts expect Lear to post $12 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Lear Trading Up 0.3 %

Shares of LEA stock opened at $104.87 on Thursday. The firm has a 50 day moving average price of $109.93 and a two-hundred day moving average price of $119.47. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $5.96 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 0.44 and a beta of 1.44. Lear has a 12-month low of $101.67 and a 12-month high of $147.11.

Lear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.08 annualized dividend and a dividend yield of 2.94%. Lear’s dividend payout ratio is presently 33.59%.

Analyst Ratings Changes

Several brokerages have recently commented on LEA. Morgan Stanley lowered their target price on shares of Lear from $150.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 target price on shares of Lear in a report on Tuesday, September 10th. UBS Group lowered their target price on shares of Lear from $136.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Wolfe Research initiated coverage on shares of Lear in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Lear from $179.00 to $166.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Lear has an average rating of “Moderate Buy” and a consensus price target of $145.64.

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.