logo
  Join        Login             Stock Quote

Lear Corp. (LEA) PT Cut To $58 By Deutsche Bank After Q1, 'Buy' Maintained On Valuation

 May 04, 2012 03:39 PM
 


(By Balaseshan) Deutsche Bank (DB) lowered its price target on shares of Lear Corp. (NYSE:LEA) to $58 from $71, while maintaining its "Buy" rating based on valuation.

Lear reported first quarter earnings of $1.38 per share versus DB's estimate of $1.04 per share and Bloomberg Consensus of $1.20 per share. Revenue was on target with DB's $3.6 billion estimate.

Most of the upside versus the brokerage's estimate ($0.23) was derived from a higher than expected EBIT margin (5.4% versus its 4.6% estimate). EPS also benefited from below the line items ($0.08 was from a lower tax rate; $0.01 was from a lower share count).

[Related -Forget Ford And GM, Buy These 6 Stocks Instead]

Looking ahead into the fiscal 2012, Lear continues to expect adjusted earnings of $490 million to $520 million and revenue of $13.85 billion to $14.35 billion. The company still anticipates 2012 core operating earnings of $740 million to $790 million.

Lear is a tier 1 supplier to the global automotive industry. The company supplies its products to automotive manufacturers with automotive seat systems and related components, as well as electrical distribution systems and related components. It has two segments: seating and electrical power management systems.

LEA is trading down 1.61% at $40.99 on Friday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageChipotle Mexican Grill, Inc. (CMG) Q2 Earnings Preview: Will Higher Traffic Offset Higher Costs the Key

Chipotle Mexican Grill, Inc. (NYSE:CMG) will host a conference call to discuss second quarter 2014 read on...

article imageNetflix, Inc. (NFLX) Q2 Earnings Preview: The Ruby Month for a Reason

Netflix, Inc. (NASDAQ:NFLX) will post its second-quarter 2014 financial results and business outlook on its read on...

article imageLadenburg Thalmann Financial Services (NYSEMKT:LTS): Heavy, Durable Insider Buying

Ahh, but any worries over price levels didn’t stop multiple insiders at Ladenburg Thalmann Financial read on...

article imageInternational Business Machines Corp. (IBM) Q2 Earnings Preview: Small Beat and Pop

International Business Machines Corp. (NYSE:IBM) will host a conference call Wednesday, Jul. 16, 2014 at read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.