Harley-Davidson, Inc. (NYSE:HOG) Forecasted to Earn Q3 2024 Earnings of $1.08 Per Share

Harley-Davidson, Inc. (NYSE:HOG) – Investment analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for Harley-Davidson in a note issued to investors on Thursday, August 29th. Zacks Research analyst R. Singhi now expects that the company will post earnings per share of $1.08 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 released its quarterly earnings data on Thursday, July 25th. The company reported $1.63 EPS for the quarter, beating 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 company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.22 earnings per share.

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

Harley-Davidson Stock Down 0.5 %

Shares of NYSE HOG opened at $37.27 on Monday. The business’s fifty day moving average price is $35.48 and its 200-day moving average price is $36.78. The stock has a market capitalization of $5.01 billion, a PE ratio of 8.28, a P/E/G ratio of 1.36 and a beta of 1.46. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.50 and a quick ratio of 1.32. Harley-Davidson has a one year low of $25.43 and a one year high of $44.16.

Hedge Funds Weigh In On Harley-Davidson

Hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its holdings in Harley-Davidson by 95.0% in the 4th quarter. Quadrant Capital Group LLC now owns 788 shares of the company’s stock worth $29,000 after buying an additional 384 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Harley-Davidson in the first quarter valued at approximately $39,000. Principal Securities Inc. purchased a new stake in Harley-Davidson in the fourth quarter valued at approximately $38,000. American National Bank purchased a new stake in shares of Harley-Davidson during the first quarter worth $52,000. Finally, Neo Ivy Capital Management purchased a new position in Harley-Davidson in the fourth quarter valued at $50,000. 85.10% of the stock is owned by institutional investors and hedge funds.

Harley-Davidson declared that its board has initiated a stock repurchase plan on Thursday, July 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 19.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.