This is Why Harley-Davidson (HOG) Stock is Falling After Earnings

  • This is Why Harley-Davidson (HOG) Stock is Falling After Earnings

This is Why Harley-Davidson (HOG) Stock is Falling After Earnings

Harley-Davidson Inc.'s revenue fell 14% in the first quarter as the motorcycle maker's retail sales slid in the in the US and overseas.

The company's net income fell 25.6 percent to $186.37 million, $1.05 per share, in the quarter, from a year earlier.

Bill Alpert, a senior editor at the financial magazine, Barron's, said the company's target demographic is aging, which is contributing to the declines.

First quarter worldwide Harley-Davidson retail motorcycle sales were down 4.2 percent compared to the same period in 2016.

The US motorbike maker Harley-Davidson has reported sales declines in Europe, the Middle East and Africa (Emea) for the first quarter, mirroring falls nearly everywhere else.

Based on the lastest quarterly filings, institutions continue to be large stakeholders in Harley-Davidson, Inc.

The company's shipments in the United States - its biggest market - fell 20.6 percent to 45,784 motorcycles in the quarter ended March 26.

The Milwaukee-based company released its financial report Tuesday, showing that sales of motorcycles are down slightly over the same quarter previous year. The company delivered three positive earnings surprises in the trailing four quarters and missed in one, with an average miss of 1.62%. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.03. The analyst recommendations from a month ago are 3 Buy, 1 Overweight, 2 Sell, 15 Hold and 0 Underweight.

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Through last night, Harley's shares had gained 5% since Bill's story ran, but after today's earnings report, it's fair to say that much of what he predicted was borne out in Harley's numbers.

Several hedge funds and other institutional investors have recently bought and sold shares of the company.

Sell-side analysts have also provided a consensus recommendation of 2.80 on company shares. The stock has a market cap of $9.93 billion, a P/E ratio of 14.85 and a beta of 0.88.

Harley-Davidson (NYSE:HOG) traded down 4.28% during trading on Tuesday, hitting $56.86.

Shares fell 3.35% to US$57.52 in early USA trading. NN Investment Partners Holdings N.V. increased its position in Harley-Davidson by 155.5% in the fourth quarter. Following the sale, the director now directly owns 5,523 shares of the company's stock, valued at approximately $314,148.24.

Currently, the market capitalization of Harley-Davidson, Inc. Tower Research Capital LLC TRC now owns 3,818 shares of the company's stock valued at $201,000 after buying an additional 700 shares during the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of Harley-Davidson by 0.4% in the first quarter.

In the first quarter, revenue from the Motorcycles and Related Products segment was down versus the first quarter of 2016 on lower shipments.