Jefferies Financial Group Analysts Cut Earnings Estimates for Harley-Davidson, Inc. (NYSE:HOG)

Harley-Davidson, Inc. (NYSE:HOGGet Rating) – Jefferies Financial Group lowered their Q2 2023 EPS estimates for Harley-Davidson in a report issued on Wednesday, March 15th. Jefferies Financial Group analyst A. Glaessgen now expects that the company will post earnings per share of $1.80 for the quarter, down from their prior estimate of $1.81. Jefferies Financial Group has a “Hold” rating and a $39.00 price target on the stock. The consensus estimate for Harley-Davidson’s current full-year earnings is $4.72 per share. Jefferies Financial Group also issued estimates for Harley-Davidson’s Q3 2023 earnings at $1.31 EPS, FY2023 earnings at $4.62 EPS and FY2024 earnings at $4.72 EPS.

Harley-Davidson (NYSE:HOGGet Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.21. The company had revenue of $918.70 million during the quarter, compared to analyst estimates of $910.04 million. Harley-Davidson had a net margin of 13.35% and a return on equity of 27.23%. Harley-Davidson’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 EPS.

Other research analysts have also recently issued reports about the stock. DA Davidson upped their price objective on shares of Harley-Davidson from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. upgraded Harley-Davidson from a “hold” rating to a “buy” rating in a report on Monday. Citigroup set a $49.00 price objective on Harley-Davidson in a research report on Wednesday, November 23rd. Finally, Morgan Stanley lifted their price objective on Harley-Davidson from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 1st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Harley-Davidson currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.38.

Harley-Davidson Price Performance

Shares of NYSE:HOG opened at $38.59 on Thursday. Harley-Davidson has a fifty-two week low of $29.80 and a fifty-two week high of $51.77. The company’s 50-day moving average is $45.69 and its 200 day moving average is $43.06. The company has a market capitalization of $5.64 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 1.35 and a beta of 1.39. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.08 and a current ratio of 1.34.

Harley-Davidson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Friday, March 3rd will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, March 2nd. This is a boost from Harley-Davidson’s previous quarterly dividend of $0.16. Harley-Davidson’s payout ratio is 13.28%.

Insiders Place Their Bets

In other news, SVP Jonathan R. Root sold 2,239 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $50.17, for a total transaction of $112,330.63. Following the sale, the senior vice president now owns 5,474 shares of the company’s stock, valued at approximately $274,630.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is currently owned by insiders.

Institutional Trading of Harley-Davidson

A number of institutional investors and hedge funds have recently made changes to their positions in HOG. BlackRock Inc. increased its stake in shares of Harley-Davidson by 1.5% in the first quarter. BlackRock Inc. now owns 12,727,257 shares of the company’s stock valued at $501,454,000 after purchasing an additional 194,089 shares during the period. Boston Partners lifted its position in Harley-Davidson by 0.5% during the 4th quarter. Boston Partners now owns 10,649,388 shares of the company’s stock worth $444,152,000 after acquiring an additional 57,796 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in shares of Harley-Davidson by 17.1% during the fourth quarter. Jupiter Asset Management Ltd. now owns 5,684,086 shares of the company’s stock valued at $236,344,000 after buying an additional 828,342 shares during the last quarter. LSV Asset Management increased its stake in Harley-Davidson by 0.6% in the fourth quarter. LSV Asset Management now owns 5,001,567 shares of the company’s stock valued at $208,065,000 after acquiring an additional 27,490 shares during the period. Finally, State Street Corp grew its stake in Harley-Davidson by 5.6% during the first quarter. State Street Corp now owns 4,111,284 shares of the company’s stock worth $161,985,000 after buying an additional 216,545 shares during the last quarter. 83.96% of the stock is currently owned by institutional investors and hedge funds.

About Harley-Davidson

(Get Rating)

Harley-Davidson, Inc is engaged in the manufacture and sale of custom, cruiser, and touring motorcycles. It operates through the following segments: Motorcycles & Related Products and Financial Services. The Motorcycles & Related Products segment manufactures, designs, and sells at wholesale on-road Harley-Davidson motorcycles as well as motorcycle parts, accessories, general merchandise, and related services.

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