Wedbush Weighs in on Harley-Davidson Inc.’s Q3 2016 Earnings (HOG)
Harley-Davidson Inc. (NYSE:HOG) – Equities researchers at Wedbush decreased their Q3 2016 earnings estimates for Harley-Davidson in a research report issued to clients and investors on Thursday. Wedbush analyst J. Hardiman now expects that the firm will post earnings per share of $0.59 for the quarter, down from their previous estimate of $0.62. Wedbush currently has a “Hold” rating on the stock. Wedbush also issued estimates for Harley-Davidson’s FY2016 earnings at $3.86 EPS and FY2017 earnings at $4.00 EPS.
HOG has been the subject of a number of other research reports. Vetr raised Harley-Davidson from a “sell” rating to a “hold” rating and set a $53.25 price objective for the company in a research note on Tuesday, August 23rd. Argus restated a “hold” rating on shares of Harley-Davidson in a report on Monday, August 1st. Goldman Sachs Group Inc. restated a “neutral” rating and set a $47.00 target price on shares of Harley-Davidson in a report on Wednesday, August 3rd. BMO Capital Markets restated an “outperform” rating and set a $66.00 target price on shares of Harley-Davidson in a report on Friday, September 9th. Finally, Barclays PLC restated an “equal weight” rating and set a $49.00 target price on shares of Harley-Davidson in a report on Thursday, July 7th. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. Harley-Davidson has an average rating of “Hold” and a consensus target price of $51.16.
Shares of Harley-Davidson (NYSE:HOG) traded down 1.286% during midday trading on Friday, reaching $49.515. 736,205 shares of the company’s stock were exchanged. The company has a market cap of $8.94 billion, a P/E ratio of 13.176 and a beta of 1.05. The firm has a 50 day moving average price of $52.20 and a 200 day moving average price of $48.95. Harley-Davidson has a 12 month low of $36.36 and a 12 month high of $57.33.
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Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.67 billion. Harley-Davidson had a net margin of 13.23% and a return on equity of 34.33%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.44 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Tuesday, September 13th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Friday, September 9th. Harley-Davidson’s payout ratio is 36.65%.
In related news, insider Lawrence G. Hund sold 12,537 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were 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 approximately $900,758.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Paul J. Jones sold 2,517 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $54.03, for a total transaction of $135,993.51. The disclosure for this sale can be found here. Corporate insiders own 0.99% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Mizuho Asset Management Co. Ltd. raised 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 in the last quarter. Tower Research Capital LLC TRC raised 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 in the last quarter. Pacer Advisors Inc. raised 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 in the last quarter. Tredje AP fonden raised 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 in the last quarter. Finally, Cutler Capital Management LLC raised 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 in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.
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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