Harley-Davidson (NYSE:HOG) Releases Quarterly Earnings Results, Misses Estimates By $0.11 EPS

Key Points

• Harley-Davidson reported a quarterly EPS of $0.88, which fell short of analyst expectations of $0.99, amidst a 19.3% decline in year-over-year revenue.
• The company's stock rose by 13.2%, closing at $25.97 on the day following the earnings announcement.
• Harley-Davidson declared a quarterly dividend of $0.18 per share, which represents a yield of 2.77% and a payout ratio of 26.87%.

Harley-Davidson (NYSE:HOG - Get Free Report) issued its earnings results on Wednesday. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.99 by ($0.11), Zacks reports. Harley-Davidson had a return on equity of 7.43% and a net margin of 5.76%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The business's revenue was down 19.3% compared to the same quarter last year.

Harley-Davidson Stock Down 2.0%

Shares of NYSE:HOG traded down $0.48 during trading on Friday, reaching $23.85. 1,011,350 shares of the company traded hands, compared to its average volume of 2,240,166. The firm has a fifty day simple moving average of $24.30 and a 200 day simple moving average of $24.88. The company has a quick ratio of 1.36, a current ratio of 1.37 and a debt-to-equity ratio of 1.32. Harley-Davidson has a 1-year low of $20.45 and a 1-year high of $39.93. The firm has a market cap of $2.90 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 0.52 and a beta of 1.30.

Harley-Davidson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were given a $0.18 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 3.0%. Harley-Davidson's dividend payout ratio is presently 26.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Robert W. Baird increased their price target on Harley-Davidson from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, May 14th. UBS Group decreased their target price on shares of Harley-Davidson from $28.00 to $27.00 and set a "neutral" rating for the company in a report on Tuesday, July 8th. Citigroup boosted their price target on shares of Harley-Davidson from $24.00 to $27.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Finally, DA Davidson reaffirmed a "buy" rating and issued a $31.00 price objective on shares of Harley-Davidson in a research note on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Harley-Davidson currently has a consensus rating of "Hold" and an average price target of $29.83.

Hedge Funds Weigh In On Harley-Davidson

A number of hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Harley-Davidson by 62.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,436 shares of the company's stock valued at $2,183,000 after purchasing an additional 33,097 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Harley-Davidson by 18.3% during the 1st quarter. Empowered Funds LLC now owns 17,560 shares of the company's stock valued at $443,000 after buying an additional 2,712 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Harley-Davidson by 153.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company's stock valued at $53,000 after buying an additional 1,278 shares in the last quarter. 85.10% of the stock is owned by institutional investors and hedge funds.

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.