Weak demand for Harley-Davidson Inc's motorcycles in the first quarter led to lower-than-expected retail sales at its dealers, raising concerns that the company could miss its already weak shipment forecast for the year. Harley-Davidson's revenue was down 15.7% compared to the same quarter a year ago.
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.
Harley-Davidson shares fell 4.5 per cent to $56.73 in NY morning trading.
By Kityvankova (Own work) [Public domain], via Wikimedia CommonsJohnson & Johnson's GAAP earnings per share rose to $1.61 from $1.59 per share in last year's first quarter.
Based on the lastest quarterly filings, institutions continue to be large stakeholders in Harley-Davidson, Inc.
Since the start of the New Year, Harley-Davidson, Inc. The company has forecast it would ship fewer bikes in the quarter than in the year-earlier period.
Shares of Johnson & Johnson were little changed in premarket trading this morning as they hovered around $125.72 per share. Analysts expect the company to announce earnings of $1.02 per share for the quarter.
The Milwaukee-based heavy motorcycles maker reported Q1 earnings per share (EPS) of $1.05, which was $0.03 better than the Wall Street consensus estimate of $1.02. The analyst recommendations from a month ago are 3 Buy, 1 Overweight, 2 Sell, 15 Hold and 0 Underweight. The company has a 50-day moving average price of $60.00 and a 200-day moving average price of $57.88. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the stock.
In other news, SVP Michelle Kumbier sold 3,049 shares of Harley-Davidson stock in a transaction on Monday, February 6th.
Harley-Davidson Inc (NYSE:HOG), after opening at $60.87, closed at $59.70 by scoring -2.21%. (NYSE:HOG) shares have seen a move of 2.99%. Institutional investors own 89.54% of the company's stock. Buy rating has been given by 5 analysts to the company stock whereas no analyst given UNDERPERFORM rating to stock and 6 analysts given HOLD rating. Independent Franchise Partners LLP boosted its position in Harley-Davidson by 1.5% in the third quarter. This is an increase over its cash dividend of 35 cents per share from the same time past year. Finally, DA Davidson upgraded Harley-Davidson from an "underperform" rating to a "market perform" rating in a report on Wednesday, April 12th.
In the first quarter, revenue from the Motorcycles and Related Products segment was down versus the first quarter of 2016 on lower shipments. At the end of the first quarter, 18.0 million shares remained on a board-approved share repurchase authorization.