Zacks: Brokerages Expect Harley-Davidson Inc (NYSE:HOG) Will Announce Quarterly Sales of $892.85 Million

Equities research analysts predict that Harley-Davidson Inc (NYSE:HOG) will post sales of $892.85 million for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Harley-Davidson’s earnings, with estimates ranging from $730.00 million to $1.16 billion. Harley-Davidson posted sales of $1.07 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 16.6%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 27th.

On average, analysts expect that Harley-Davidson will report full year sales of $3.43 billion for the current year, with estimates ranging from $3.16 billion to $3.71 billion. For the next year, analysts anticipate that the business will post sales of $4.25 billion, with estimates ranging from $3.95 billion to $4.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Harley-Davidson.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings results on Tuesday, July 28th. The company reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.47). The company had revenue of $669.27 million during the quarter, compared to the consensus estimate of $763.47 million. Harley-Davidson had a return on equity of 9.55% and a net margin of 1.72%. The company’s revenue was down 53.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share.

HOG has been the subject of several recent research reports. UBS Group raised Harley-Davidson from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $24.00 to $31.00 in a research report on Wednesday, July 15th. Citigroup started coverage on Harley-Davidson in a research report on Monday, July 6th. They set a “buy” rating and a $33.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $36.00 target price (up from $27.00) on shares of Harley-Davidson in a research report on Thursday, July 16th. BMO Capital Markets raised Harley-Davidson from a “market perform” rating to an “outperform” rating and upped their target price for the company from $23.00 to $33.00 in a research report on Tuesday, July 14th. Finally, Northcoast Research raised Harley-Davidson from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Thursday, July 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine 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 $31.93.

Several institutional investors and hedge funds have recently modified their holdings of HOG. Captrust Financial Advisors acquired a new position in Harley-Davidson in the 2nd quarter worth about $30,000. Verus Capital Partners LLC raised its holdings in Harley-Davidson by 26.7% in the 1st quarter. Verus Capital Partners LLC now owns 2,246 shares of the company’s stock worth $43,000 after purchasing an additional 473 shares during the period. Parkside Financial Bank & Trust raised its holdings in Harley-Davidson by 46.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,989 shares of the company’s stock worth $48,000 after purchasing an additional 634 shares during the period. Exane Derivatives raised its holdings in Harley-Davidson by 1,912.8% in the 2nd quarter. Exane Derivatives now owns 2,194 shares of the company’s stock worth $52,000 after purchasing an additional 2,085 shares during the period. Finally, NuWave Investment Management LLC raised its holdings in shares of Harley-Davidson by 1,211.4% during the second quarter. NuWave Investment Management LLC now owns 2,872 shares of the company’s stock valued at $67,000 after acquiring an additional 2,653 shares during the last quarter. Hedge funds and other institutional investors own 87.24% of the company’s stock.

Shares of HOG traded up $0.62 during trading hours on Monday, hitting $25.16. The company had a trading volume of 2,022,930 shares, compared to its average volume of 3,458,104. The company has a market capitalization of $3.76 billion, a PE ratio of 51.16, a price-to-earnings-growth ratio of 7.30 and a beta of 1.48. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 4.00. Harley-Davidson has a one year low of $14.31 and a one year high of $40.89. The company’s fifty day moving average price is $26.95 and its two-hundred day moving average price is $23.84.

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Thursday, September 10th were paid a $0.02 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.32%. Harley-Davidson’s payout ratio is 2.38%.

Harley-Davidson Company Profile

Harley-Davidson, Inc manufactures and sells custom, cruiser, and touring motorcycles. The company operates in two segments, Motorcycles and Related Products and Financial Services. The Motorcycles and Related Products segment designs, manufactures, and sells on-road Harley-Davidson motorcycles, including cruiser, touring, standard, sportbike, and dual models, as well as motorcycle parts, accessories, general merchandise, and related services.

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Earnings History and Estimates for Harley-Davidson (NYSE:HOG)

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