Harley-Davidson Inc (HOG) to Post FY2017 Earnings of $3.46 Per Share, Wedbush Forecasts
Harley-Davidson Inc (NYSE:HOG) – Investment analysts at Wedbush cut their FY2017 earnings per share (EPS) estimates for Harley-Davidson in a research note issued on Wednesday. Wedbush analyst J. Hardiman now expects that the company will earn $3.46 per share for the year, down from their previous forecast of $3.47. Wedbush currently has a “Neutral” rating and a $49.00 target price on the stock. Wedbush also issued estimates for Harley-Davidson’s Q4 2017 earnings at $0.53 EPS and FY2018 earnings at $3.43 EPS.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Harley-Davidson from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Argus upgraded Harley-Davidson from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Friday, October 20th. Goldman Sachs Group reiterated a “hold” rating on shares of Harley-Davidson in a research report on Sunday, October 15th. BMO Capital Markets reiterated a “buy” rating and issued a $56.00 price objective on shares of Harley-Davidson in a research report on Friday, October 13th. Finally, TheStreet downgraded Harley-Davidson from a “b-” rating to a “c+” rating in a research report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $52.82.
Harley-Davidson (NYSE:HOG) last announced its earnings results on Tuesday, October 17th. The company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Harley-Davidson had a return on equity of 14.02% and a net margin of 5.93%. The firm had revenue of $962.10 million during the quarter, compared to the consensus estimate of $959.41 million. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $0.365 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.46 annualized dividend and a dividend yield of 2.72%. Harley-Davidson’s dividend payout ratio (DPR) is presently 45.77%.
In related news, CEO Matthew S. Levatich sold 19,447 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $48.36, for a total transaction of $940,456.92. Following the completion of the transaction, the chief executive officer now owns 88,646 shares in the company, valued at approximately $4,286,920.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John A. Olin sold 28,760 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $48.03, for a total value of $1,381,342.80. Following the transaction, the chief financial officer now owns 65,722 shares of the company’s stock, valued at approximately $3,156,627.66. The disclosure for this sale can be found here. Insiders have sold a total of 58,726 shares of company stock valued at $2,816,641 in the last 90 days. 0.70% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Harley-Davidson by 0.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,100 shares of the company’s stock valued at $384,000 after purchasing an additional 66 shares in the last quarter. Norinchukin Bank The increased its holdings in Harley-Davidson by 0.3% during the 2nd quarter. Norinchukin Bank The now owns 39,905 shares of the company’s stock valued at $2,156,000 after purchasing an additional 127 shares in the last quarter. Veritable L.P. increased its holdings in Harley-Davidson by 1.0% during the 2nd quarter. Veritable L.P. now owns 13,842 shares of the company’s stock valued at $748,000 after purchasing an additional 138 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Harley-Davidson by 0.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 95,625 shares of the company’s stock valued at $5,165,000 after purchasing an additional 280 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in Harley-Davidson by 11.1% during the 2nd quarter. MML Investors Services LLC now owns 6,169 shares of the company’s stock valued at $333,000 after purchasing an additional 614 shares in the last quarter. Institutional investors and hedge funds own 97.18% of the company’s stock.
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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 Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise and related services.
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