Lear Corporation (NYSE:LEA) is reporting third quarter financial results on Friday 30th October 2020, before market open.
According to analysts surveyed by Thomson Reuters, LEA is expected to report 3Q20 income of $ 3.14 per share from revenue of $ 4655.15 million.
For the full year, analysts anticipate top line of $ 16453.50 million, while looking forward to income of $ 4.27 per share bottom line.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 19,400.00 million ~ $ 20,200.00 million
Click Here For More Historical Outlooks Of Lear Corporation
Previous Quarter Performance
Lear Corporation posted loss for the second quarter of $ 4.14 per share, from the revenue of $ 2,445.00 million. The quarterly revenues shrunk 51.17 percent compared with the same quarter last year. The consensus estimates are loss of $ 4.67 per share from $ 2158.26 million in revenue. The bottom line results beat street analysts by $ 0.53 or 11.35 percent, at the same time, top line results outshined analysts by $ 286.74 million or 13.29 percent.
Stock Performance
Shares of Lear Corporation traded up $ 2.48 or 2.03 percent on Thursday, reaching $ 124.86 with volume of 623.50 thousand shares. Lear Corporation has traded high as $ 125.04 and has cracked $ 121.70 on the downward trend
According to the previous trading day, closing price of $ 124.86, representing a 93.64 % increase from the 52 week low of $ 63.20 and a 14.72 % decrease over the 52 week high of $ 143.50.
The company has a market capital of $ 7.48 billion and is part of the Consumer Cyclical sector and Auto Parts industry.
Recent Analyst recommendations
- On 13th October 2020, upgraded by Evercore ISI to In-Line from Underperform rating.
- On 6th October 2020, maintained by KeyBanc at Overweight rating, with $ 148.00 target price.
- On 6th October 2020, initiated by Berenberg Bank at Buy rating, with $ 145.00 target price.
Conference Call
Lear Corporation will be hosting a conference call at 8:30 AM eastern time on 30th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.lear.com
Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers worldwide. Its 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. The companys E-Systems segment offers electrical distribution systems that route electrical signals and manage electrical power within the vehicle for traditional vehicle architectures, as well as high power and hybrid electric systems.