Harley-Davidson increases dividend 1.3%, share repurchase plan by 10M shares » 16:2602/1902/19/20
Harley-Davidson's board of directors approved a cash dividend of 38c per share for Q1. This represents an increase of 1.3% from its Q4 dividend of 37.5c per share. The dividend is payable March 20 to the shareholders of record of the company's common stock as of March 5. Additionally, the board authorized the company to repurchase up to an additional 10M shares of Harley-Davidson common stock. The board authorization is in addition to the existing share repurchase authorization approved in February 2018. As of the end of 2019, 8.2M shares remained on that share repurchase authorization.
|Over a week ago|
MasterCraft jumps after quarterly report, recreation peers follow » 13:5302/0502/05/20
MCFT, PII, BC, MBUU, MPX, CWH, HOG, WGO
Shares of companies in…
Shares of companies in the leisure and recreation space are trading higher after MasterCraft Boat Holdings (MCFT) announced financial results for its second quarter. QUARTERLY RESULTS AND GUIDANCE: MasterCraft reported adjusted earnings per share of 43c on revenue of $99.6M. Analysts were modeling an EPS number of 35c on revenue of $86.75M for the quarter. Q2 sales were lower than the same quarter last year due to a reduction in unit sales volumes across each of the company's reportable segments to allow its dealers to right-size pipeline inventory levels after the weather-impacted summer selling season and continuing softness in the saltwater category, the company said in a statement. The boat maker reaffirmed its full fiscal year 2020 view for EPS to be down in the high-single digit percent range. "As we look to the second half of the year, we continue to be pleased by the retail momentum we experienced in the first half of the year, early boat show results and the successful roll-out of our new Aviara brand," said CEO Fred Brightbill, who has transitioned to the permanent CEO role. PRICE ACTION: Shares of MasterCraft are off earlier highs but are currently up nearly 11% to $18.96. OTHER RECREATION STOCKS JUMP: Shares of other companies in the space including, Polaris (PII), Brunswick (BC), Malibu Boats (MBUU), Marine Products (MPX), Camping World (CWH), Harley-Davidson (HOG) and Winnebago (WGO) are all higher in afternoon trading.
Fly Intel: Top five analyst upgrades » 10:1901/2901/29/20
AAPL, FB, HOG, AMD, GE
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Apple (AAPL) upgraded to Hold from Sell at Maxim and to Neutral from Reduce at New Street. 2. Facebook (FB) upgraded to Strong Buy from Outperform at Raymond James with analyst Aaron Kessler saying he expects Facebook to reported revenue and earnings upside in Q4 as his channel checks point to "solid growth." 3. Harley-Davidson (HOG) upgraded to Sector Weight from Underweight at KeyBanc with analyst Brett Andress saying while he believes Harley-Davidson's ongoing challenges are unlikely to abate near-term, he views yesterday's selloff as more indicative of sentiment bottoming as estimates gravitate lower. 4. AMD (AMD) upgraded to Buy from Hold at Summit Insights with analyst Kinngai Chan saying he sees AMD gaining share from Intel in the server market and believes the pace of gross margin expansion can accelerate through 2020. 5. General Electric (GE) upgraded to Buy from Neutral at BofA with analyst Andrew Obin saying the company's Q4 Industrial free cash flow was better than his forecast and, "more importantly," its 2020 guidance for Industrial free cash flow of $2B-$4B excluding Biopharma was materially higher than his prior forecast of $0.7B adjusted for timing of the Biopharma sale. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Harley-Davidson price target lowered to $40 from $43 at Morgan Stanley » 08:5201/2901/29/20
Morgan Stanley analyst…
Morgan Stanley analyst Adam Jonas reduced his 2020 motorcycle operating margin forecast to the low end of management's guidance following Harley-Davidson's lower than expected Q4 profits and guidance and lowered his adjusted EPS forecast accordingly. While he cut his price target on Harley shares to $40 from $43, he keeps an Overweight rating on the stock as he believes that free cash flow yield is strong enough to support continued return of cash through buybacks and dividends. While he acknowledges that whether he is right on his Overweight call "will come down to whether management's efforts to stop the decline in demand do not come at a disproportionate sacrifice to margins and brand value," for now Jonas said he is "willing to take the leap."
KeyBanc upgrades Harley-Davidson to Sector Weight with sentiment bottoming » 06:5901/2901/29/20
KeyBanc analyst Brett…
KeyBanc analyst Brett Andress upgraded Harley-Davidson to Sector Weight from Underweight without a price target. While the analyst believes Harley-Davidson's ongoing challenges are unlikely to abate near-term, he views yesterday's selloff as more indicative of sentiment bottoming as estimates gravitate lower. With the stock down 14% since his downgrade, Andress believes the "next leg of downside will likely be harder to achieve" in the near-term against increasingly reset expectations. However, elements of the Harley-Davidson's fiscal 2020 guidance still look aggressive, keeping the risk/reward in "unfavorable territory," adds Andress.
Harley-Davidson upgraded to Sector Weight from Underweight at KeyBanc » 04:5801/2901/29/20
KeyBanc analyst Brett…
KeyBanc analyst Brett Andress upgraded Harley-Davidson to Sector Weight from Underweight.
William Blair cuts estimates on Harley-Davidson after Q4 results » 14:1901/2801/28/20
William Blair analyst…
William Blair analyst Sharon Zackfia reiterated a Market Perform rating on Harley-Davidson after the company reported fourth quarter results. Zackfia noted that she is lowering her estimates for the company after its "weaker-than-expected" 2020 margin guidance, saying the outlook suggests "little top-line momentum." The analyst added that her rating is pending a consistent return to domestic retail sales gains, especially given a "challenging" domestic motorcycle backdrop.
Harley-Davidson board is 'always mindful' of shareholder value 09:4501/2801/28/20
HDFS sees slight increase in credit losses in FY20 but offset by revenues 09:4101/2801/28/20
Harley-Davidson sees smaller U.S. sales decline in FY20 09:3201/2801/28/20