Harley-Davidson Inc (NYSE:HOG) Expected to Announce Quarterly Sales of $1.05 Billion

Brokerages forecast that Harley-Davidson Inc (NYSE:HOG) will report sales of $1.05 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Harley-Davidson’s earnings. The lowest sales estimate is $1.03 billion and the highest is $1.07 billion. Harley-Davidson posted sales of $1.12 billion during the same quarter last year, which would indicate a negative year over year growth rate of 6.3%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 22nd.

On average, analysts expect that Harley-Davidson will report full year sales of $4.63 billion for the current fiscal year, with estimates ranging from $4.56 billion to $4.73 billion. For the next fiscal year, analysts forecast that the business will post sales of $4.64 billion, with estimates ranging from $4.55 billion to $4.73 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Harley-Davidson.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.04. Harley-Davidson had a return on equity of 28.67% and a net margin of 7.99%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company posted $1.52 earnings per share. The business’s revenue was down 6.0% on a year-over-year basis.



A number of brokerages have recently commented on HOG. Goldman Sachs Group reissued a “sell” rating and issued a $34.00 price objective (down previously from $37.00) on shares of Harley-Davidson in a research report on Wednesday, April 24th. ValuEngine upgraded Harley-Davidson from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 30th. Morgan Stanley lowered their price target on Harley-Davidson from $46.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Northcoast Research restated a “hold” rating on shares of Harley-Davidson in a research report on Tuesday, June 4th. Finally, Wedbush set a $35.00 price target on Harley-Davidson and gave the stock a “hold” rating in a research report on Friday, July 12th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $41.00.

In other Harley-Davidson news, VP Paul J. Jones sold 11,884 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $35.15, for a total value of $417,722.60. Following the sale, the vice president now directly owns 9,575 shares in the company, valued at approximately $336,561.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jochen Zeitz sold 2,227 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $33.05, for a total transaction of $73,602.35. Following the completion of the sale, the director now owns 1 shares in the company, valued at $33.05. The disclosure for this sale can be found here. Insiders sold a total of 47,737 shares of company stock worth $1,699,899 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Morningstar Investment Services LLC bought a new position in Harley-Davidson during the 1st quarter valued at about $6,625,000. OLD National Bancorp IN boosted its holdings in shares of Harley-Davidson by 27.6% during the second quarter. OLD National Bancorp IN now owns 68,445 shares of the company’s stock valued at $2,453,000 after acquiring an additional 14,803 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of Harley-Davidson by 1.4% during the first quarter. Parametric Portfolio Associates LLC now owns 380,259 shares of the company’s stock valued at $13,560,000 after acquiring an additional 5,098 shares during the period. Mn Services Vermogensbeheer B.V. grew its position in shares of Harley-Davidson by 207.6% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 86,975 shares of the company’s stock worth $3,116,000 after acquiring an additional 58,700 shares during the last quarter. Finally, Icon Wealth Partners LLC bought a new position in shares of Harley-Davidson during the first quarter worth about $27,000. Institutional investors own 94.12% of the company’s stock.

NYSE:HOG traded up $0.30 on Wednesday, reaching $32.56. The stock had a trading volume of 1,323,688 shares, compared to its average volume of 2,058,714. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 2.45. The company has a 50-day moving average of $35.10 and a 200 day moving average of $36.13. The stock has a market cap of $4.91 billion, a P/E ratio of 8.61, a price-to-earnings-growth ratio of 1.11 and a beta of 1.18. Harley-Davidson has a 12-month low of $31.16 and a 12-month high of $46.22.

About Harley-Davidson

Harley-Davidson, Inc manufactures and sells custom, cruiser, and touring motorcycles. The company operates in two segments, Motorcycles and Related Products and Financial Services. The Motorcycles and Related Products segment designs, manufactures, and sells on-road Harley-Davidson motorcycles, including cruiser, touring, standard, sportbike, and dual models, as well as motorcycle parts, accessories, general merchandise, and related services.

Recommended Story: What is Compound Annual Growth Rate (CAGR)?

Get a free copy of the Zacks research report on Harley-Davidson (HOG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Harley-Davidson (NYSE:HOG)

Receive News & Ratings for Harley-Davidson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harley-Davidson and related companies with MarketBeat.com's FREE daily email newsletter.