Stock Buyback Plan Declared by Harley-Davidson (NYSE:HOG) Board of Directors

Harley-Davidson (NYSE:HOG) declared that its board has initiated a stock buyback plan on Thursday, July 25th, RTT News reports. The company plans to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 19.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Harley-Davidson Stock Up 1.5 %

Shares of Harley-Davidson stock traded up $0.58 on Tuesday, hitting $38.38. 2,109,006 shares of the company traded hands, compared to its average volume of 1,744,667. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 1.44. Harley-Davidson has a 12-month low of $25.43 and a 12-month high of $44.16. The company has a 50-day moving average price of $34.35 and a 200 day moving average price of $36.43. The company has a market cap of $5.16 billion, a PE ratio of 8.53, a PEG ratio of 1.16 and a beta of 1.46.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.23. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the business earned $1.22 EPS. Harley-Davidson’s quarterly revenue was up 12.0% compared to the same quarter last year. Sell-side analysts predict that Harley-Davidson will post 4.33 earnings per share for the current year.

Harley-Davidson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Wednesday, June 5th were given a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, June 5th. Harley-Davidson’s dividend payout ratio is 15.33%.

Analysts Set New Price Targets

HOG has been the topic of several research reports. DA Davidson upped 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. Robert W. Baird lifted their price objective on shares of Harley-Davidson from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley assumed coverage on shares of Harley-Davidson in a research report on Tuesday, April 23rd. They set an “overweight” rating and a $50.00 price objective on the stock. BMO Capital Markets lowered their price objective on shares of Harley-Davidson from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, Citigroup lowered their price objective on shares of Harley-Davidson from $36.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 12th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.14.

Harley-Davidson Company Profile

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.