Lear Corporation (NYSE:LEA) – Research analysts at Seaport Global Securities boosted their Q3 2017 earnings estimates for Lear Corporation in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Ward now anticipates that the auto parts company will earn $3.71 per share for the quarter, up from their previous estimate of $3.50. Seaport Global Securities currently has a “Buy” rating and a $163.00 target price on the stock.
Lear Corporation (NYSE:LEA) last issued its quarterly earnings results on Wednesday, July 26th. The auto parts company reported $4.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.11 by $0.28. Lear Corporation had a net margin of 5.46% and a return on equity of 32.76%. The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the company earned $3.66 EPS. Lear Corporation’s revenue was up 8.4% on a year-over-year basis.
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Other analysts have also issued reports about the company. Guggenheim started coverage on Lear Corporation in a research report on Wednesday, June 21st. They issued a “buy” rating and a $167.00 price objective for the company. BidaskClub lowered Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. ValuEngine lowered Lear Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research upgraded Lear Corporation from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research report on Tuesday, April 4th. Finally, Berenberg Bank started coverage on Lear Corporation in a research report on Friday, March 31st. They issued a “buy” rating and a $175.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Lear Corporation currently has an average rating of “Hold” and a consensus price target of $147.54.
Shares of Lear Corporation (LEA) opened at 149.17 on Friday. The firm has a 50-day moving average of $144.31 and a 200-day moving average of $142.67. Lear Corporation has a one year low of $107.65 and a one year high of $153.28. The firm has a market capitalization of $10.28 billion, a P/E ratio of 10.38 and a beta of 1.31.
Institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in Lear Corporation during the fourth quarter valued at $941,000. Highbridge Capital Management LLC acquired a new position in Lear Corporation during the fourth quarter valued at $681,000. Macquarie Group Ltd. boosted its position in Lear Corporation by 12.0% in the fourth quarter. Macquarie Group Ltd. now owns 16,800 shares of the auto parts company’s stock valued at $2,224,000 after buying an additional 1,800 shares during the period. Lau Associates LLC boosted its position in Lear Corporation by 2.3% in the first quarter. Lau Associates LLC now owns 9,023 shares of the auto parts company’s stock valued at $1,277,000 after buying an additional 200 shares during the period. Finally, CENTRAL TRUST Co boosted its position in Lear Corporation by 1.1% in the first quarter. CENTRAL TRUST Co now owns 2,327 shares of the auto parts company’s stock valued at $329,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 96.72% of the company’s stock.
In other news, Director Greg C. Smith sold 2,266 shares of Lear Corporation stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $145.12, for a total transaction of $328,841.92. Following the transaction, the director now owns 13,885 shares in the company, valued at approximately $2,014,991.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.49% of the company’s stock.
Lear Corporation Company Profile
Lear Corporation (Lear) is a supplier to the global automotive industry. The Company is engaged in supplying seating, electrical distribution systems and electronic modules, as well as related sub-systems, components and software, to automotive manufacturers. The Company’s segments include Seating and E-Systems.
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