Northcoast Research Comments on Harley-Davidson, Inc.’s FY2017 Earnings (HOG)
Harley-Davidson, Inc. (NYSE:HOG) – Research analysts at Northcoast Research upped their FY2017 earnings per share estimates for shares of Harley-Davidson in a research note issued on Wednesday. Northcoast Research analyst S. Woolf now forecasts that the company will earn $3.40 per share for the year, up from their previous estimate of $3.30. Northcoast Research also issued estimates for Harley-Davidson’s Q2 2018 earnings at $1.49 EPS, Q3 2018 earnings at $0.55 EPS and FY2018 earnings at $3.65 EPS.
Several other equities research analysts have also recently weighed in on HOG. Argus upgraded Harley-Davidson from a “hold” rating to a “buy” rating in a report on Friday. Stifel Nicolaus increased their target price on Harley-Davidson from $48.00 to $49.00 and gave the company a “hold” rating in a report on Wednesday. Zacks Investment Research cut Harley-Davidson from a “hold” rating to a “sell” rating in a report on Tuesday. TheStreet cut Harley-Davidson from a “b-” rating to a “c+” rating in a report on Tuesday. Finally, Goldman Sachs Group, Inc. (The) restated a “hold” rating on shares of Harley-Davidson in a report on Sunday, October 15th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $52.47.
Shares of Harley-Davidson (HOG) traded up 1.41% during mid-day trading on Friday, hitting $48.77. The stock had a trading volume of 290,089 shares. Harley-Davidson has a 12 month low of $45.53 and a 12 month high of $63.40. The firm has a 50 day moving average price of $47.68 and a 200-day moving average price of $51.67. The stock has a market cap of $8.51 billion, a P/E ratio of 14.28 and a beta of 0.87.
Harley-Davidson (NYSE:HOG) last announced its quarterly earnings results on Tuesday, October 17th. The company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. Harley-Davidson had a return on equity of 28.69% and a net margin of 11.68%. The firm had revenue of $962.10 million for the quarter, compared to analyst estimates of $959.41 million. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was down 11.9% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Harley-Davidson by 1.5% during the second quarter. Vanguard Group Inc. now owns 17,684,083 shares of the company’s stock valued at $955,294,000 after purchasing an additional 267,352 shares in the last quarter. Capital Research Global Investors lifted its position in Harley-Davidson by 605.1% during the second quarter. Capital Research Global Investors now owns 16,732,599 shares of the company’s stock valued at $903,895,000 after purchasing an additional 14,359,571 shares in the last quarter. BlackRock Inc. lifted its position in Harley-Davidson by 1.5% during the second quarter. BlackRock Inc. now owns 10,724,574 shares of the company’s stock valued at $579,342,000 after purchasing an additional 154,675 shares in the last quarter. Independent Franchise Partners LLP lifted its position in Harley-Davidson by 0.6% during the second quarter. Independent Franchise Partners LLP now owns 5,285,536 shares of the company’s stock valued at $285,524,000 after purchasing an additional 33,969 shares in the last quarter. Finally, LSV Asset Management lifted its position in Harley-Davidson by 1.0% during the second quarter. LSV Asset Management now owns 4,044,113 shares of the company’s stock valued at $218,462,000 after purchasing an additional 39,699 shares in the last quarter. Institutional investors own 91.05% of the company’s stock.
In related news, insider Lawrence G. Hund sold 15,013 shares of Harley-Davidson stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $47.18, for a total transaction of $708,313.34. Following the transaction, the insider now directly owns 23,673 shares in the company, valued at $1,116,892.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.70% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 12th were paid a $0.365 dividend. The ex-dividend date was Monday, September 11th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.04%. Harley-Davidson’s dividend payout ratio (DPR) is currently 45.63%.
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 Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise and related services.
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