Harley-Davidson (NYSE:HOG) Sees Unusually-High Trading Volume After Earnings Beat

Harley-Davidson, Inc. (NYSE:HOG) saw unusually-high trading volume on Thursday after the company announced better than expected quarterly earnings. Approximately 3,039,032 shares changed hands during mid-day trading, an increase of 81% from the previous session’s volume of 1,679,107 shares.The stock last traded at $34.82 and had previously closed at $39.44.

The company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.24. Harley-Davidson had a return on equity of 19.48% and a net margin of 11.03%. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion.

Harley-Davidson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Monday, March 4th were given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Friday, March 1st. This is a boost from Harley-Davidson’s previous quarterly dividend of $0.17. Harley-Davidson’s dividend payout ratio is 15.33%.

Analysts Set New Price Targets

A number of analysts recently commented on HOG shares. Morgan Stanley started coverage on Harley-Davidson in a research report on Tuesday. They set an “overweight” rating and a $50.00 price objective for the company. Citigroup upped their price objective on Harley-Davidson from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. BMO Capital Markets cut their price target on Harley-Davidson from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Friday. UBS Group boosted their price target on Harley-Davidson from $29.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Finally, DA Davidson boosted their price target on Harley-Davidson from $42.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Harley-Davidson currently has an average rating of “Moderate Buy” and an average target price of $46.43.

Hedge Funds Weigh In On Harley-Davidson

A number of hedge funds have recently made changes to their positions in HOG. Quadrant Capital Group LLC boosted its stake in shares of Harley-Davidson by 95.0% in the fourth quarter. Quadrant Capital Group LLC now owns 788 shares of the company’s stock worth $29,000 after acquiring an additional 384 shares during the period. BKM Wealth Management LLC bought a new position in shares of Harley-Davidson in the fourth quarter worth about $36,000. Principal Securities Inc. bought a new position in shares of Harley-Davidson in the fourth quarter worth about $38,000. Lindbrook Capital LLC boosted its stake in shares of Harley-Davidson by 66.7% in the fourth quarter. Lindbrook Capital LLC now owns 1,057 shares of the company’s stock worth $39,000 after acquiring an additional 423 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Harley-Davidson in the first quarter worth about $39,000. Institutional investors own 85.10% of the company’s stock.

Harley-Davidson Stock Performance

The stock has a market cap of $4.67 billion, a P/E ratio of 7.72, a price-to-earnings-growth ratio of 2.16 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.54 and a debt-to-equity ratio of 1.50. The business has a 50 day moving average price of $39.81 and a two-hundred day moving average price of $34.93.

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.