Harley-Davidson Now Covered by Morgan Stanley (HOG)
by Patrick Bannon
Research analysts at Morgan Stanley assumed coverage on shares of Harley-Davidson (NYSE: HOG) in a report released on Monday, Stock Ratings Network reports. The firm set an “overweight” rating on the stock.
The analysts wrote, “Morgan Stanley’s bullish view on US housing can translate into a high single-digit volume CAGR for HOG. Competitive, flexible manufacturing footprint. HOG’s $0.5bn restructuring since 2009 has seen a 50% cut in the hourly workforce and implementation of ERP and flexible manufacturing where 30% of the workers can be seasonal. HOG has generated significant free cash flow to equity holders for 18 of the past 20 years and we expect $1bn of FCF on average through 2017.”
Shares of Harley-Davidson (NYSE: HOG) traded up 0.79% during mid-day trading on Monday, hitting $54.78. Harley-Davidson has a one year low of $37.84 and a one year high of $55.51. The stock’s 50-day moving average is currently $52.66. The company has a market cap of $12.294 billion and a P/E ratio of 18.32.
Harley-Davidson (NYSE: HOG) last released its earnings data 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. Analysts expect that Harley-Davidson will post $3.34 EPS for the current fiscal year.
HOG has been the subject of a number of other recent research reports. Analysts at JP Morgan Cazenove raised their price target on shares of Harley-Davidson from $59.00 to $62.00 in a research note to investors on Friday, April 26th. They now have an “overweight” rating on the stock. Separately, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Harley-Davidson in a research note to investors on Friday, April 26th. They now have a $65.00 price target on the stock. Finally, analysts at Wedbush reiterated an “outperform” rating on shares of Harley-Davidson in a research note to investors on Thursday, April 25th. They now have a $63.00 price target on the stock.
One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued 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 a consensus price target of $59.00.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 14th. Investors of record on Thursday, May 30th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Tuesday, May 28th.