Harley-Davidson Inc. to Post Q4 2016 Earnings of $0.36 Per Share, Wedbush Forecasts (HOG)
Harley-Davidson Inc. (NYSE:HOG) – Analysts at Wedbush cut their Q4 2016 earnings estimates for Harley-Davidson in a note issued to investors on Tuesday. Wedbush analyst J. Hardiman now expects that the brokerage will post earnings of $0.36 per share for the quarter, down from their previous forecast of $0.37. Wedbush currently has a “Hold” rating on the stock. Wedbush also issued estimates for Harley-Davidson’s FY2017 earnings at $4.03 EPS.
Several other analysts also recently commented on the stock. Vetr downgraded shares of Harley-Davidson from a “strong-buy” rating to a “buy” rating and set a $51.44 target price on the stock. in a report on Tuesday, May 31st. Citigroup Inc. restated a “buy” rating and set a $51.00 target price on shares of Harley-Davidson in a report on Monday, June 13th. Longbow Research restated a “hold” rating on shares of Harley-Davidson in a report on Wednesday, June 15th. Barclays PLC downgraded shares of Harley-Davidson from an “equal weight” rating to an “underperform” rating and dropped their target price for the stock from $49.00 to $45.00 in a report on Friday, July 29th. Finally, RBC Capital Markets restated an “underperform” rating and set a $43.00 target price on shares of Harley-Davidson in a report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $51.40.
Shares of Harley-Davidson (NYSE:HOG) traded up 3.21% during mid-day trading on Wednesday, hitting $52.06. 7,442,601 shares of the stock were exchanged. Harley-Davidson has a 12-month low of $36.36 and a 12-month high of $57.33. The company has a market capitalization of $9.40 billion, a PE ratio of 13.85 and a beta of 1.09. The firm has a 50-day moving average price of $52.77 and a 200 day moving average price of $48.64.
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Harley-Davidson (NYSE:HOG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.01. Harley-Davidson had a net margin of 13.23% and a return on equity of 34.33%. The business earned $1.86 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the company earned $1.44 earnings per share. Harley-Davidson’s revenue for the quarter was up 1.2% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Tuesday, September 13th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, September 9th. Harley-Davidson’s dividend payout ratio is currently 36.65%.
In related news, insider Lawrence G. Hund sold 12,537 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $53.23, for a total value of $667,344.51. Following the completion of the transaction, the insider now owns 16,922 shares of the company’s stock, valued at $900,758.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Paul J. Jones sold 2,517 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $54.03, for a total value of $135,993.51. The disclosure for this sale can be found here. Insiders own 0.99% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of HOG. Mizuho Asset Management Co. Ltd. increased its position in Harley-Davidson by 59.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,501 shares of the company’s stock worth $113,000 after buying an additional 929 shares during the period. Tower Research Capital LLC TRC increased its position in Harley-Davidson by 344.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,118 shares of the company’s stock worth $141,000 after buying an additional 2,417 shares during the period. Pacer Advisors Inc. increased its position in Harley-Davidson by 7.3% in the second quarter. Pacer Advisors Inc. now owns 3,625 shares of the company’s stock worth $164,000 after buying an additional 247 shares during the period. Tredje AP fonden increased its position in Harley-Davidson by 1,380.8% in the second quarter. Tredje AP fonden now owns 3,850 shares of the company’s stock worth $174,000 after buying an additional 3,590 shares during the period. Finally, Cutler Capital Management LLC increased its position in Harley-Davidson by 33.3% in the second quarter. Cutler Capital Management LLC now owns 4,000 shares of the company’s stock worth $181,000 after buying an additional 1,000 shares during the period. 94.90% of the stock is owned by institutional investors and hedge funds.
Harley-Davidson Company Profile
Harley-Davidson, Inc is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two segments: the Motorcycles & Related Products (Motorcycles) and the Financial Services. The Motorcycles segment consists of HDMC, which designs, manufactures and sells at wholesale on-road l Harley-Davidson motorcycles, as well as a line of motorcycle parts, accessories, general merchandise and related services.
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