Analysts Set Expectations for Harley-Davidson, Inc.’s Q3 2024 Earnings (NYSE:HOG)

Harley-Davidson, Inc. (NYSE:HOG) – Equities researchers at Zacks Research reduced their Q3 2024 earnings estimates for shares of Harley-Davidson in a research report issued on Thursday, August 29th. Zacks Research analyst R. Singhi now forecasts that the company will earn $1.08 per share for the quarter, down from their prior estimate of $1.11. The consensus estimate for Harley-Davidson’s current full-year earnings is $4.32 per share. Zacks Research also issued estimates for Harley-Davidson’s FY2024 earnings at $4.51 EPS, Q3 2025 earnings at $1.00 EPS, Q4 2025 earnings at $0.59 EPS, FY2025 earnings at $4.74 EPS, Q1 2026 earnings at $1.51 EPS and FY2026 earnings at $5.54 EPS.

Harley-Davidson (NYSE:HOG) last issued its earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.40 by $0.23. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.29 billion. Harley-Davidson had a return on equity of 20.33% and a net margin of 11.92%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 earnings per share.

Several other research analysts also recently commented on HOG. Robert W. Baird lifted their target price on Harley-Davidson from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Citigroup decreased their price objective on shares of Harley-Davidson from $36.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, June 12th. Finally, UBS Group increased their price target on Harley-Davidson from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.29.

Harley-Davidson Stock Performance

Harley-Davidson stock opened at $37.44 on Monday. The business has a 50 day moving average of $35.33 and a 200-day moving average of $36.79. The company has a market capitalization of $4.93 billion, a P/E ratio of 8.32, a P/E/G ratio of 1.36 and a beta of 1.46. Harley-Davidson has a 1 year low of $25.43 and a 1 year high of $44.16. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.50 and a quick ratio of 1.32.

Institutional Trading of Harley-Davidson

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Harley-Davidson by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,428,716 shares of the company’s stock worth $587,372,000 after purchasing an additional 452,536 shares during the period. Boston Partners boosted its stake in Harley-Davidson by 10.1% in the 4th quarter. Boston Partners now owns 7,206,167 shares of the company’s stock worth $265,398,000 after purchasing an additional 659,654 shares during the period. Dimensional Fund Advisors LP grew its holdings in Harley-Davidson by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,248,512 shares of the company’s stock valued at $209,576,000 after buying an additional 708,260 shares in the last quarter. LSV Asset Management increased its holdings in Harley-Davidson by 17.3% during the 2nd quarter. LSV Asset Management now owns 5,705,775 shares of the company’s stock worth $191,372,000 after acquiring an additional 842,407 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Harley-Davidson by 42.8% in the second quarter. American Century Companies Inc. now owns 2,263,919 shares of the company’s stock worth $75,932,000 after buying an additional 678,092 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors.

Harley-Davidson declared that its board has authorized a stock buyback program on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 19.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.