|Bid||124.16 x 1000|
|Ask||124.29 x 800|
|Day's Range||120.88 - 124.76|
|52 Week Range||63.20 - 143.50|
|Beta (5Y Monthly)||1.50|
|PE Ratio (TTM)||9.09|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Feb. 27, 2020|
|1y Target Est||N/A|
Lear Corp is implementing costly safety measures that may hurt productivity at its operations in Mexico after suffering the deadliest known factory-related coronavirus outbreak in the Americas, but the U.S. auto parts maker still faces a battle to win back workers' trust. The northern Mexican border city of Ciudad Juarez remains in the throes of the pandemic as it mourns the deaths of numerous factory workers, including 20 from Lear's <LEA.N> Rio Bravo plant, which makes trim seat covers for Mercedes-Benz and Ford. "I don't think you'll find anyone who says they're not scared," Alma Sonia Trevizo, an employee at the Rio Bravo plant, told Reuters while on a break from safety training ahead of its planned June 1 partial restart.
Japanese automakers Toyota, Nissan and Honda said they are gradually restarting in Mexico as the nation's automotive industry reboots in line with a broader economic reopening, despite still-high numbers of new coronavirus cases. Mexican officials in mid-May said the automotive industry could exit the coronavirus lockdown before June 1 if approved safety measures were in place. Toyota Motor Corp and Nissan Motor Co Ltd told Reuters on Monday that they were preparing to gradually resume operations, and Honda Motor Co Ltd last Friday said it had begun a gradual return to operations.
Morgan Stanley (NYSE:MS) analyst Armintas Sinkevicius maintained a Hold rating on Lear (NYSE:LEA) Corp on Monday, setting a price target of $82, which is approximately 14.10% below the present share price of $95.46.
Before we begin, I'd like to take this opportunity to remind you that as we conduct this call, we will be making forward-looking statements to assist you in understanding Lear's expectations for the future. Before I begin the formal presentation, I would like to say a few words about the current crisis.
Lear (LEA) delivered earnings and revenue surprises of 89.81% and 4.13%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Workers at a Lear Corp <LEA.N> autoparts plant in northern Mexico that saw the worst known coronavirus outbreak of any factory in the Americas are now bracing to be sent back to work. For many, it's an agonizing bind after the outbreak at Lear's Rio Bravo plant that Lear said has killed 18 employees. Part of a wider international supply chain crucial to the U.S. auto sector, they are also aware that pressures from beyond Mexico may factor into the timetable.
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