FY2017 EPS Estimates for Harley-Davidson Inc Cut by KeyCorp (HOG)

Harley-Davidson Inc (NYSE:HOG) – Stock analysts at KeyCorp reduced their FY2017 earnings estimates for shares of Harley-Davidson in a research note issued on Monday. KeyCorp analyst B. Andress now expects that the company will earn $3.35 per share for the year, down from their prior estimate of $3.40. KeyCorp also issued estimates for Harley-Davidson’s FY2018 earnings at $3.40 EPS.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Tuesday, October 17th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. Harley-Davidson had a return on equity of 28.69% and a net margin of 11.68%. The firm had revenue of $962.10 million for the quarter, compared to analysts’ expectations of $959.41 million. During the same period last year, the business posted $0.64 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis.

A number of other research firms have also issued reports on HOG. Wedbush lowered their target price on Harley-Davidson to $49.00 and set a “neutral” rating on the stock in a report on Wednesday, January 10th. Longbow Research lowered Harley-Davidson from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 target price (up from $49.00) on shares of Harley-Davidson in a report on Wednesday. Zacks Investment Research raised Harley-Davidson from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Tuesday, January 2nd. Finally, Goldman Sachs Group lowered Harley-Davidson to a “hold” rating and set a $43.00 target price on the stock. in a report on Wednesday, January 3rd. Three investment 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 company presently has an average rating of “Hold” and an average target price of $53.12.

Harley-Davidson (NYSE HOG) opened at $52.34 on Thursday. Harley-Davidson has a one year low of $44.52 and a one year high of $63.40. The stock has a market capitalization of $8,810.00, a price-to-earnings ratio of 16.41, a P/E/G ratio of 1.65 and a beta of 0.96. The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.03 and a current ratio of 1.18.

Several large investors have recently added to or reduced their stakes in HOG. JPMorgan Chase & Co. boosted its position in Harley-Davidson by 34.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 212,111 shares of the company’s stock worth $11,458,000 after acquiring an additional 53,956 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Harley-Davidson by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 342,436 shares of the company’s stock valued at $18,498,000 after buying an additional 3,471 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Harley-Davidson by 1.5% during the 2nd quarter. BlackRock Inc. now owns 10,724,574 shares of the company’s stock valued at $579,342,000 after buying an additional 154,675 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Harley-Davidson by 49.5% during the 2nd quarter. Amalgamated Bank now owns 20,375 shares of the company’s stock valued at $1,101,000 after buying an additional 6,742 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of Harley-Davidson during the 2nd quarter valued at about $645,000. Institutional investors and hedge funds own 97.18% of the company’s stock.

In related news, Director Jochen Zeitz sold 1,859 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $47.80, for a total value of $88,860.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew S. Levatich sold 19,447 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $48.36, for a total value of $940,456.92. Following the completion of the transaction, the chief executive officer now owns 88,646 shares of the company’s stock, valued at approximately $4,286,920.56. The disclosure for this sale can be found here. Insiders sold a total of 29,966 shares of company stock valued at $1,435,298 in the last quarter. 0.70% of the stock is currently owned by corporate insiders.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a $0.365 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.79%. Harley-Davidson’s dividend payout ratio (DPR) is 45.77%.

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About Harley-Davidson

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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