Wedbush Lowers Estimates on Harley-Davidson (NYSE: HOG); Still Standing By This Powerful Brand
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Price: $55.44 -2.79%
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade HOG Now!
Wedbush maintains an 'Outperform' on Harley-Davidson (NYSE: HOG) price target of $58.00.
Analyst, Rommel Dionisio, said, "Based on feedback from our survey of over 60 U.S. motorcycle dealers, we believe domestic retail sales trends for H-D QTD are flat to down LSD, below the MSD growth rate in Q2. Dealers cited the shifted timing of new product launches compared to last year. Last summer, Harley began shipping new MY12 introductions as early as June/July. However, as Harley shut down its largest manufacturing facility earlier this quarter due to a major ERP implementation, the co. decided to shift its MY13 product launch timing out to late August this year."
Dionisio also noted that recovery in supply chain of competitors is tough as well. He also expects a pick up in 2013 as more customized bikes are introduced. All in, Dionisio lowers FY13 EPS from $3.55 to $3.50 and revenues from $5.497B to $5.406B.
For an analyst ratings summary and ratings history on Harley-Davidson click here. For more ratings news on Harley-Davidson click here.
Shares of Harley-Davidson closed at $41.40 yesterday, with a 52 week range of $31.50-$54.32.
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Analyst, Rommel Dionisio, said, "Based on feedback from our survey of over 60 U.S. motorcycle dealers, we believe domestic retail sales trends for H-D QTD are flat to down LSD, below the MSD growth rate in Q2. Dealers cited the shifted timing of new product launches compared to last year. Last summer, Harley began shipping new MY12 introductions as early as June/July. However, as Harley shut down its largest manufacturing facility earlier this quarter due to a major ERP implementation, the co. decided to shift its MY13 product launch timing out to late August this year."
Dionisio also noted that recovery in supply chain of competitors is tough as well. He also expects a pick up in 2013 as more customized bikes are introduced. All in, Dionisio lowers FY13 EPS from $3.55 to $3.50 and revenues from $5.497B to $5.406B.
For an analyst ratings summary and ratings history on Harley-Davidson click here. For more ratings news on Harley-Davidson click here.
Shares of Harley-Davidson closed at $41.40 yesterday, with a 52 week range of $31.50-$54.32.
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