Wedbush Research Analysts Cut Earnings Estimates for Harley-Davidson Inc. (HOG)
Harley-Davidson Inc. (NYSE:HOG) – Stock analysts at Wedbush cut their Q4 2016 EPS estimates for Harley-Davidson in a research note issued to investors on Tuesday. Wedbush analyst J. Hardiman now forecasts that the firm will post earnings of $0.36 per share for the quarter, down from their prior forecast of $0.37. Wedbush has a “Hold” rating on the stock. Wedbush also issued estimates for Harley-Davidson’s FY2017 earnings at $4.03 EPS.
Harley-Davidson (NYSE:HOG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.01. The business earned $1.86 billion during the quarter, compared to the consensus estimate of $1.67 billion. Harley-Davidson had a return on equity of 34.33% and a net margin of 13.23%. Harley-Davidson’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $1.44 earnings per share.
HOG has been the topic of a number of other research reports. Vetr lowered Harley-Davidson from a “hold” rating to a “sell” rating and set a $50.75 price target on the stock. in a research report on Monday, August 29th. Sanford C. Bernstein initiated coverage on Harley-Davidson in a research report on Thursday, September 8th. They issued an “outperform” rating and a $64.00 price target on the stock. Citigroup Inc. upped their price target on Harley-Davidson from $51.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, August 29th. TheStreet lowered Harley-Davidson from a “buy” rating to a “hold” rating in a research report on Tuesday, June 14th. Finally, UBS AG reiterated a “neutral” rating and issued a $55.00 price target on shares of Harley-Davidson in a research report on Sunday, August 14th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. Harley-Davidson currently has an average rating of “Hold” and an average target price of $51.40.
Harley-Davidson (NYSE:HOG) opened at 52.42 on Wednesday. The company’s 50 day moving average price is $52.80 and its 200-day moving average price is $48.66. 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 $9.47 billion, a P/E ratio of 13.95 and a beta of 1.09.
Institutional investors have recently added to or reduced their stakes in the stock. Harris Associates L P raised its position in shares of Harley-Davidson by 163.3% in the second quarter. Harris Associates L P now owns 7,918,594 shares of the company’s stock valued at $358,713,000 after buying an additional 4,911,620 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Harley-Davidson by 46.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,702,359 shares of the company’s stock valued at $530,116,000 after buying an additional 3,703,199 shares during the period. Norges Bank purchased a new position in shares of Harley-Davidson during the fourth quarter valued at $84,485,000. Dodge & Cox raised its position in shares of Harley-Davidson by 20.9% in the first quarter. Dodge & Cox now owns 9,327,733 shares of the company’s stock valued at $478,793,000 after buying an additional 1,614,713 shares during the period. Finally, WBI Investments Inc. purchased a new position in shares of Harley-Davidson during the second quarter valued at $68,063,000. 94.90% of the stock is owned by institutional investors.
In other news, VP Paul J. Jones sold 2,517 shares of the company’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 value of $135,993.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lawrence G. Hund sold 12,537 shares of the company’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 directly owns 16,922 shares of the company’s stock, valued at $900,758.06. The disclosure for this sale can be found here. 0.99% of the stock is owned by insiders.
The firm 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 $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, September 9th. Harley-Davidson’s dividend payout ratio is presently 36.65%.
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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