Lear Co. (NYSE:LEA) Announces $0.75 Quarterly Dividend

Lear Co. (NYSE:LEA) declared a quarterly dividend on Thursday, November 14th, Zacks reports. Shareholders of record on Friday, December 6th will be paid a dividend of 0.75 per share by the auto parts company on Thursday, December 26th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, December 5th.

NYSE LEA opened at $118.78 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 6.52, a PEG ratio of 3.59 and a beta of 1.46. The company has a 50 day moving average of $122.06 and a 200-day moving average of $123.70. Lear has a 1-year low of $105.10 and a 1-year high of $160.00.

Lear (NYSE:LEA) last issued its quarterly earnings results on Friday, October 25th. The auto parts company reported $3.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.14 by $0.40. Lear had a return on equity of 22.07% and a net margin of 4.21%. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the business posted $4.09 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Lear will post 13.4 earnings per share for the current year.

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A number of research firms have recently weighed in on LEA. Robert W. Baird downgraded Lear from an “outperform” rating to a “neutral” rating and set a $155.00 target price for the company. in a research report on Friday, October 25th. KeyCorp decreased their price target on Lear from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Morgan Stanley decreased their price target on Lear from $165.00 to $143.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Guggenheim started coverage on Lear in a research note on Tuesday, October 15th. They issued a “neutral” rating for the company. Finally, Buckingham Research cut their price objective on shares of Lear from $140.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Lear currently has an average rating of “Hold” and a consensus price target of $151.07.

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 worldwide. It operates in two segments, Seating and E-Systems. The Seating segment offers leather and fabric products, seat trim covers, recliner mechanisms, seat tracks and foams, seat structures and mechanisms, and headrests for automobiles and light trucks, compact cars, and sport utility vehicles; and heating and cooling systems.

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Dividend History for Lear (NYSE:LEA)

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