Steady As She Goes
Harley-Davidson (NYSE: HOG)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. They currently have a $62.00 target price on the stock.
Zacks‘ analyst wrote, “Harley-Davidson’s first-quarter earnings per share rose 33.8% to $0.99, beating the Zacks Consensus Estimate by $0.02. Consolidated revenues of $1.57 billion also topped the Zacks Consensus Estimate of $1.46 billion due to higher motorcycle shipments and continued improvement in operating efficiencies. The company expects global shipments of 259,000 to 264,000 motorcycles in 2013, a 4.5%-6.5% increase from 2012. Recently, the company raised 2013-first quarter dividend by 35.5% to $0.21. However, we are concerned about its aging customer base and strong competition. As such, we continue with our Neutral recommendation and set a target price of $62.00. “
Harley-Davidson (NYSE: HOG) traded up 0.05% on Tuesday, hitting $59.49. Harley-Davidson has a 52-week low of $37.84 and a 52-week high of $59.84. The stock’s 50-day moving average is currently $53.99. The company has a market cap of $13.351 billion and a price-to-earnings ratio of 20.04.
Harley-Davidson (NYSE: HOG) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.99 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.99. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts predict that Harley-Davidson will post $3.33 earnings per share for the current fiscal year.
HOG has been the subject of a number of other recent research reports. Analysts at Thomson Reuters/Verus upgraded shares of Harley-Davidson from a “sell” rating to a “hold” rating in a research note to investors on Monday. Separately, analysts at Longbow Research reiterated a “buy” rating on shares of Harley-Davidson in a research note to investors on Monday, May 13th. They now have a $64.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Harley-Davidson in a research note to investors on Monday, May 6th. They set an “overweight” rating and a $62.00 price target on the stock.
One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $59.77.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 14th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Tuesday, May 28th.
Harley-Davidson, Inc. is a motorcycle manufacturer that produces heavyweight motorcycles and a complete line of motorcycle parts, accessories and general merchandise.
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