Revenue Update on Lear Corporation(NYSE:LEA)

Lear Corporation(NYSE:LEA) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $4.72B. Analysts estimated a revenue of $4.87B. Earnings per share were $3.66. Analysts had estimated an EPS of $3.32.

In a different note, On Jun 21, 2016, Bank of America said it Downgrades its rating on Lear Corporation. The shares have been rated ‘Neutral’ by the firm. On May 3, 2016, Goldman Sachs said it Maintains its rating on Lear Corporation. In the research note, the firm Raises the price-target to $107.00 per share. The shares have been rated ‘Neutral’ by the firm.

Lear Corporation (LEA) made into the market gainers list on Thursdays trading session with the shares advancing 0.31% or 0.34 points. Due to strong positive momentum, the stock ended at $111.54, which is also near the day’s high of $112.64. The stock began the session at $111.38 and the volume stood at 7,99,109 shares. The 52-week high of the shares is $127 and the 52 week low is $89.71. The company has a current market capitalization of $7,978 M and it has 7,15,27,465 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 29, 2016, Conrad L Jr Mallett (director) sold 100 shares at $100.99 per share price.Also, On Jun 7, 2016, Jay K. Kunkel (President, Asia Pacific Ops) sold 653 shares at $116.32 per share price.On May 23, 2016, Greg C Smith (director) sold 1,000 shares at $113.95 per share price, according to the Form-4 filing with the securities and exchange commission.

Lear Corporation is engaged in providing automotive seat systems and individual seat component parts. The Company has two segments: seating and electrical. The Company seating segment consists of the design development engineering assembly and delivery of complete seat systems. The Company is also involved in the design development engineering and manufacture of all seat components including seat structures and mechanisms seat covers and surface materials such as fabric and leather seat foam and headrests. The Company’s electrical segment consists of the design development engineering manufacture assembly and supply of electrical distribution systems and components for light vehicles. The Company has manufacturing engineering and administrative capabilities in about 34 countries with 219 locations. The Company also manufactures junction boxes and electronic control modules which are connected to the wire harness assemblies.

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