Harley-Davidson Inc. (HOG) Issues Earnings Results
Harley-Davidson Inc. (NYSE:HOG) posted its earnings results on Tuesday. The company reported $0.64 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.64. The business earned $1.27 billion during the quarter, compared to analyst estimates of $1.09 billion. Harley-Davidson had a return on equity of 34.33% and a net margin of 13.23%.
Harley-Davidson (NYSE:HOG) opened at 49.70 on Tuesday. The firm has a 50-day moving average price of $51.52 and a 200-day moving average price of $48.99. Harley-Davidson has a 12-month low of $36.36 and a 12-month high of $57.33. The company has a market cap of $8.98 billion, a P/E ratio of 13.23 and a beta of 1.05.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Tuesday, September 13th were issued a $0.35 dividend. The ex-dividend date was Friday, September 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.82%. Harley-Davidson’s dividend payout ratio (DPR) is 36.65%.
A number of research analysts have weighed in on the company. Vetr raised Harley-Davidson from a “sell” rating to a “hold” rating and set a $53.25 target price for the company in a report on Tuesday, August 23rd. Argus reissued a “hold” rating on shares of Harley-Davidson in a report on Monday, August 1st. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $47.00 price objective on shares of Harley-Davidson in a report on Wednesday, August 3rd. BMO Capital Markets reissued an “outperform” rating and set a $66.00 price objective on shares of Harley-Davidson in a report on Friday, September 9th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $50.00 price objective on shares of Harley-Davidson in a report on Friday. 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 stock. Harley-Davidson currently has a consensus rating of “Hold” and a consensus target price of $51.16.
In other news, insider Lawrence G. Hund sold 12,537 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $53.23, for a total transaction of $667,344.51. Following the transaction, the insider now owns 16,922 shares of the company’s stock, valued at approximately $900,758.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Paul J. Jones sold 2,517 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $54.03, for a total value of $135,993.51. The disclosure for this sale can be found here. 0.99% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its position in 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 in the last quarter. Dodge & Cox increased its position in Harley-Davidson by 1.1% in the second quarter. Dodge & Cox now owns 9,425,983 shares of the company’s stock valued at $426,997,000 after buying an additional 98,250 shares in the last quarter. State Street Corp increased its position in Harley-Davidson by 2.9% in the second quarter. State Street Corp now owns 8,274,099 shares of the company’s stock valued at $374,834,000 after buying an additional 236,451 shares in the last quarter. WBI Investments Inc. bought a new position in Harley-Davidson during the second quarter valued at $68,063,000. Finally, Guggenheim Capital LLC increased its position in Harley-Davidson by 13.6% in the second quarter. Guggenheim Capital LLC now owns 597,803 shares of the company’s stock valued at $27,081,000 after buying an additional 71,785 shares in the last quarter. 94.88% of the stock is currently owned by hedge funds and other 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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