NEW YORK (TheStreet) -- Shares of Harley-Davidson Inc. (HOG) are down -5.04% to $63.70 after the motorcycle company lowered its full-year forecast for motorcycle shipments today, based on weaker-than-expected U.S. retail sales and a delay in getting its newest bike into dealer showrooms, Reuters reports.
The new outlook came as the company reported higher than expected second-quarter earnings.
Quarterly profit increased to $354.2 million, or $1.62 a share, from $271.7 million, or $1.21 a share, a year earlier. Analysts on average had expected $1.46 a share, according to Thomson Reuters I/B/E/S.
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TheStreet Ratings team rates HARLEY-DAVIDSON INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate HARLEY-DAVIDSON INC (HOG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, increase in net income, revenue growth, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."
Highlights from the analysis by TheStreet Ratings Team goes as follows: