Harley-Davidson (NYSE:HOG) Trading Down 5.2% After Earnings Miss

Shares of Harley-Davidson, Inc. (NYSE:HOG) dropped 5.2% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $25.31 and last traded at $25.43. Approximately 1,493,394 shares traded hands during trading, a decline of 28% from the average daily volume of 2,082,140 shares. The stock had previously closed at $26.82.

The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.28). Harley-Davidson had a return on equity of 17.79% and a net margin of 11.31%. During the same quarter in the previous year, the firm earned $0.18 earnings per share.

Harley-Davidson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 2.70%. The ex-dividend date was Tuesday, December 10th. Harley-Davidson’s dividend payout ratio is currently 15.54%.

Analysts Set New Price Targets

HOG has been the subject of several research reports. Robert W. Baird decreased their price objective on shares of Harley-Davidson from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, December 31st. UBS Group dropped their price target on Harley-Davidson from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Bank of America lowered their target price on Harley-Davidson from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Citigroup reduced their price target on shares of Harley-Davidson from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Finally, StockNews.com raised shares of Harley-Davidson from a “sell” rating to a “hold” rating in a report on Wednesday, November 27th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mork Capital Management LLC bought a new position in shares of Harley-Davidson in the 3rd quarter valued at about $1,926,000. Barclays PLC raised its holdings in shares of Harley-Davidson by 135.7% in the third quarter. Barclays PLC now owns 282,932 shares of the company’s stock worth $10,900,000 after buying an additional 162,899 shares during the period. Quantinno Capital Management LP boosted its holdings in Harley-Davidson by 151.3% during the 3rd quarter. Quantinno Capital Management LP now owns 50,475 shares of the company’s stock valued at $1,945,000 after acquiring an additional 30,388 shares during the period. Quantbot Technologies LP grew its position in Harley-Davidson by 190.4% in the 3rd quarter. Quantbot Technologies LP now owns 172,258 shares of the company’s stock valued at $6,637,000 after acquiring an additional 112,948 shares during the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of Harley-Davidson during the third quarter worth $2,725,000. 85.10% of the stock is currently owned by institutional investors.

Harley-Davidson Stock Performance

The company has a market capitalization of $3.25 billion, a PE ratio of 5.73, a PEG ratio of 0.33 and a beta of 1.46. The firm’s 50-day simple moving average is $30.33 and its 200-day simple moving average is $33.69. The company has a current ratio of 1.41, a quick ratio of 1.25 and a debt-to-equity ratio of 1.38.

About Harley-Davidson

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.