Wedbush Comments on Harley-Davidson Inc.’s Q3 2016 Earnings (HOG)
Harley-Davidson Inc. (NYSE:HOG) – Investment analysts at Wedbush reduced their Q3 2016 earnings per share (EPS) estimates for Harley-Davidson in a note issued to investors on Thursday. Wedbush analyst J. Hardiman now forecasts that the brokerage will earn $0.59 per share for the quarter, down from their previous forecast 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.
Other research analysts have also recently issued research reports about the stock. Vetr cut shares of Harley-Davidson from a “hold” rating to a “strong sell” rating and set a $46.00 target price for the company. in a report on Tuesday, July 5th. Barclays PLC cut shares of Harley-Davidson from an “equal weight” rating to an “underperform” rating and lowered their target price for the company from $49.00 to $45.00 in a report on Friday, July 29th. Stifel Nicolaus cut shares of Harley-Davidson from a “buy” rating to a “hold” rating in a report on Friday, July 15th. They noted that the move was a valuation call. Longbow Research restated a “hold” rating on shares of Harley-Davidson in a report on Wednesday, June 15th. Finally, Argus restated a “hold” rating on shares of Harley-Davidson in a report on Monday, August 1st. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $51.16.
Shares of Harley-Davidson (NYSE:HOG) opened at 50.00 on Friday. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 13.30 and a beta of 1.05. The stock has a 50 day moving average of $52.10 and a 200 day moving average of $48.95. Harley-Davidson has a 12 month low of $36.36 and a 12 month high of $57.33.
Harley-Davidson (NYSE:HOG) last announced its earnings results on Thursday, July 28th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.01. Harley-Davidson had a net margin of 13.23% and a return on equity of 34.33%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business earned $1.44 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Tuesday, September 13th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, September 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.80%. Harley-Davidson’s dividend payout ratio is currently 36.65%.
In other Harley-Davidson news, VP Paul J. Jones sold 2,517 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $54.03, for a total transaction of $135,993.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lawrence G. Hund sold 12,537 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $53.23, for a total transaction of $667,344.51. Following the sale, the insider now directly owns 16,922 shares in the company, valued at $900,758.06. The disclosure for this sale can be found here. Company insiders own 0.99% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Aperio Group LLC boosted its stake in Harley-Davidson by 16.9% in the first quarter. Aperio Group LLC now owns 53,066 shares of the company’s stock valued at $2,724,000 after buying an additional 7,690 shares in the last quarter. Ngam Advisors L.P. boosted its stake in Harley-Davidson by 59.5% in the first quarter. Ngam Advisors L.P. now owns 43,187 shares of the company’s stock valued at $2,217,000 after buying an additional 16,113 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Harley-Davidson during the first quarter valued at about $1,851,000. M&T Bank Corp boosted its stake in Harley-Davidson by 61.2% in the first quarter. M&T Bank Corp now owns 46,065 shares of the company’s stock valued at $2,364,000 after buying an additional 17,483 shares in the last quarter. Finally, Credit Agricole S A boosted its stake in Harley-Davidson by 41.9% in the first quarter. Credit Agricole S A now owns 462,570 shares of the company’s stock valued at $23,745,000 after buying an additional 136,579 shares in the last quarter. 94.90% of the stock is currently owned by 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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