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NEW YORK (TheStreet) -- Harley-Davidson (HOG) reported in-line earnings and revenue for the 2016 third quarter on Tuesday morning.

Before the opening bell, the Milwaukee-based motorcycle manufacturer posted adjusted earnings of 64 cents per diluted share, meeting analysts' estimates.

Consolidated revenue for the quarter was $1.27 billion. Revenue from motorcycles and related products was $1.09 billion, in line with Wall Street's expectations.

Worldwide retail motorcycles sales fell 4.5% year-over-year in the period, led by a 7.1% year-over-year decline in the U.S. market.

Harley-Davidson said it will "streamline" operations in the fourth quarter due to declining industry growth in the U.S. The company expects charges between $20 million and $25 million in the fourth quarter to cover employee separation and reorganization costs.

For the full year, Harley-Davidson anticipates $255 million to $275 million in capital expenditures.

Harley-Davidson expects to ship 264,000 to 269,000 motorcycles in 2016. Additionally, the company projects a 15% to 16% operating margin in its motorcycles business for the year.

Shares of Harley-Davidson were flat in pre-market trading on Tuesday.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "buy" with a ratings score of B-.

The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, growth in earnings per share and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

You can view the full analysis from the report here: HOG

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