Lear (LEA) to Release Quarterly Earnings on Thursday

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

Lear (NYSE:LEA) last posted its quarterly earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.34 by $0.26. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $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 Down 3.6 %

NYSE:LEA opened at $105.08 on Tuesday. Lear has a 1 year low of $101.67 and a 1 year high of $147.11. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.34. The stock has a fifty day moving average price of $109.84 and a two-hundred day moving average price of $118.79. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.44 and a beta of 1.44.

Lear Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Wednesday, September 4th were issued a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.93%. Lear’s dividend payout ratio is presently 33.59%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LEA shares. Wells Fargo & Company lowered their target price on shares of Lear from $131.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Friday, September 20th. The Goldman Sachs Group lowered their price target on Lear from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $132.00 target price on shares of Lear in a research report on Tuesday, September 10th. Morgan Stanley dropped their price target on Lear from $150.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Finally, Barclays decreased their price objective on shares of Lear from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Lear presently has an average rating of “Moderate Buy” and an average price target of $145.09.

Lear Company Profile

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.