Lear Co. (NYSE:LEA) to Issue Quarterly Dividend of $0.77

by · The Markets Daily

Lear Co. (NYSE:LEA – Get Free Report) announced a quarterly dividend on Thursday, November 21st,RTT News reports. Stockholders of record on Wednesday, December 11th will be given a dividend of 0.77 per share by the auto parts company on Monday, December 30th. This represents a $3.08 annualized dividend and a dividend yield of 3.20%.

Lear has increased its dividend by an average of 44.5% per year over the last three years. Lear has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lear to earn $13.84 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 22.3%.

Lear Stock Performance

NYSE LEA traded up $2.81 during trading hours on Thursday, hitting $96.37. 623,881 shares of the company’s stock traded hands, compared to its average volume of 661,262. The company has a current ratio of 1.33, a quick ratio of 1.03 and a debt-to-equity ratio of 0.57. Lear has a 52 week low of $92.14 and a 52 week high of $147.11. The firm has a market capitalization of $5.24 billion, a P/E ratio of 9.84, a P/E/G ratio of 0.52 and a beta of 1.46. The business’s fifty day moving average price is $102.93 and its two-hundred day moving average price is $113.10.

Lear (NYSE:LEA – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.57 by $0.32. The firm had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.52 billion. Lear had a return on equity of 14.68% and a net margin of 2.33%. Lear’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.87 EPS. Equities research analysts predict that Lear will post 12.19 EPS for the current year.

Analysts Set New Price Targets

LEA has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 price objective on shares of Lear in a research report on Tuesday, September 10th. StockNews.com downgraded shares of Lear from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Lear from $114.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Wolfe Research began coverage on shares of Lear in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Barclays downgraded shares of Lear from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $140.00 to $120.00 in a report on Wednesday, October 30th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $140.25.

View Our Latest Stock Analysis on LEA

Lear Company Profile

(Get Free Report)

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.

Further Reading