Harley-Davidson, Inc. (NYSE:HOG – Get Rating) – Jefferies Financial Group lowered their Q1 2023 earnings per share (EPS) estimates for Harley-Davidson in a research note issued on Wednesday, March 15th. Jefferies Financial Group analyst A. Glaessgen now anticipates that the company will earn $1.57 per share for the quarter, down from their prior forecast of $1.58. Jefferies Financial Group has a “Hold” rating and a $39.00 price objective on the stock. The consensus estimate for Harley-Davidson’s current full-year earnings is $4.72 per share.
A number of other equities analysts also recently issued reports on HOG. DA Davidson upped their price target on Harley-Davidson from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. Morgan Stanley upped their price target on Harley-Davidson from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 1st. Citigroup set a $49.00 price target on Harley-Davidson in a research report on Wednesday, November 23rd. Finally, StockNews.com raised Harley-Davidson from a “hold” rating to a “buy” rating in a research report on Monday, March 13th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Harley-Davidson presently has an average rating of “Moderate Buy” and a consensus price target of $49.38.
Harley-Davidson Stock Performance
Harley-Davidson (NYSE:HOG – Get Rating) last posted its earnings results on Thursday, February 2nd. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 27.23% and a net margin of 13.35%. Harley-Davidson’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share.
Institutional Investors Weigh In On Harley-Davidson
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Harley-Davidson by 1.5% during the 1st quarter. BlackRock Inc. now owns 12,727,257 shares of the company’s stock worth $501,454,000 after purchasing an additional 194,089 shares during the period. Boston Partners grew 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 purchasing an additional 57,796 shares during the period. Jupiter Asset Management Ltd. grew its position in Harley-Davidson by 17.1% during the 4th quarter. Jupiter Asset Management Ltd. now owns 5,684,086 shares of the company’s stock worth $236,344,000 after purchasing an additional 828,342 shares during the period. LSV Asset Management grew its position in Harley-Davidson by 0.6% during the 4th quarter. LSV Asset Management now owns 5,001,567 shares of the company’s stock worth $208,065,000 after purchasing an additional 27,490 shares during the period. Finally, State Street Corp grew its position in Harley-Davidson by 5.6% during the 1st quarter. State Street Corp now owns 4,111,284 shares of the company’s stock worth $161,985,000 after purchasing an additional 216,545 shares during the period. 83.96% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Harley-Davidson
In related news, SVP Jonathan R. Root sold 2,239 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $50.17, for a total value of $112,330.63. Following the transaction, the senior vice president now directly owns 5,474 shares of the company’s stock, valued at approximately $274,630.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by insiders.
Harley-Davidson Increases Dividend
The company also recently announced 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 dividend yield of 1.77%. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, March 2nd. Harley-Davidson’s dividend payout ratio is presently 13.28%.
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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