Harley-Davidson, Inc. to Post Q3 2024 Earnings of $0.70 Per Share, DA Davidson Forecasts (NYSE:HOG)

Harley-Davidson, Inc. (NYSE:HOG) – Equities researchers at DA Davidson lowered their Q3 2024 earnings per share estimates for Harley-Davidson in a research report issued on Tuesday, October 8th. DA Davidson analyst B. Rolle now anticipates that the company will earn $0.70 per share for the quarter, down from their previous forecast of $0.90. The consensus estimate for Harley-Davidson’s current full-year earnings is $4.32 per share. DA Davidson also issued estimates for Harley-Davidson’s FY2024 earnings at $3.60 EPS and FY2025 earnings at $4.45 EPS.

A number of other equities analysts have also commented on the company. Citigroup boosted their price objective on Harley-Davidson from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Baird R W downgraded shares of Harley-Davidson from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group raised their price objective on shares of Harley-Davidson from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Robert W. Baird lowered shares of Harley-Davidson from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $44.00 to $40.00 in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.43.

Harley-Davidson Price Performance

Shares of Harley-Davidson stock opened at $33.76 on Thursday. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 7.50, a P/E/G ratio of 1.41 and a beta of 1.44. The firm’s 50-day moving average price is $36.77 and its two-hundred day moving average price is $36.42. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. Harley-Davidson has a 1-year low of $25.43 and a 1-year high of $44.16.

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

Harley-Davidson declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 19.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Harley-Davidson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, September 16th. Harley-Davidson’s dividend payout ratio is 15.33%.

Institutional Investors Weigh In On Harley-Davidson

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Harley-Davidson by 19.0% during the second quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock worth $67,000 after buying an additional 320 shares during the last quarter. Fifth Third Bancorp boosted its stake in Harley-Davidson by 19.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock worth $66,000 after acquiring an additional 322 shares during the last quarter. Toronto Dominion Bank grew its holdings in Harley-Davidson by 0.7% during the first quarter. Toronto Dominion Bank now owns 51,975 shares of the company’s stock valued at $2,273,000 after purchasing an additional 345 shares during the period. Retirement Systems of Alabama increased its stake in Harley-Davidson by 0.3% in the first quarter. Retirement Systems of Alabama now owns 159,149 shares of the company’s stock valued at $6,961,000 after purchasing an additional 420 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Harley-Davidson by 46.8% in the second quarter. Signaturefd LLC now owns 1,872 shares of the company’s stock worth $63,000 after purchasing an additional 597 shares during the period. 85.10% of the stock is owned by institutional investors.

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.