Harley-Davidson (NYSE:HOG) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Harley-Davidson (NYSE:HOG) released its quarterly earnings results on Thursday. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.09, reports. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The company had revenue of $881.21 million during the quarter, compared to the consensus estimate of $970.25 million.

Harley-Davidson Price Performance

Shares of HOG opened at $31.85 on Friday. Harley-Davidson has a twelve month low of $25.43 and a twelve month high of $44.16. The company has a market capitalization of $4.19 billion, a P/E ratio of 6.49, a price-to-earnings-growth ratio of 1.59 and a beta of 1.44. The firm has a 50 day moving average of $36.54 and a 200 day moving average of $35.73. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 1.44.

Harley-Davidson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a $0.1725 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.69 annualized dividend and a dividend yield of 2.17%. Harley-Davidson’s dividend payout ratio is presently 14.05%.

Institutional Trading of Harley-Davidson

Several institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC bought a new position in shares of Harley-Davidson during the first quarter valued at $39,000. Signaturefd LLC lifted its stake in Harley-Davidson by 46.8% during the 2nd quarter. Signaturefd LLC now owns 1,872 shares of the company’s stock valued at $63,000 after acquiring an additional 597 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Harley-Davidson by 19.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock valued at $66,000 after acquiring an additional 322 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Harley-Davidson by 19.0% in the second quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock worth $67,000 after acquiring an additional 320 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Harley-Davidson by 191.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 3,999 shares of the company’s stock worth $133,000 after acquiring an additional 2,626 shares during the period. 85.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Bank of America reduced their target price on Harley-Davidson from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Citigroup dropped their target price on shares of Harley-Davidson from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday. Baird R W lowered shares of Harley-Davidson from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group boosted their price objective on shares of Harley-Davidson from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Finally, Robert W. Baird downgraded shares of Harley-Davidson from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $44.00 to $40.00 in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Harley-Davidson presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.29.

Harley-Davidson announced that its Board of Directors has authorized a stock buyback plan on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 19.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Harley-Davidson Company Profile

Harley-Davidson, Inc manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, touring, standard, sportbike, adventure, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services.