Harley-Davidson Inc. (NYSE:HOG) shares have reached a 52-week low, trading at $31.31, with a notably low P/E ratio of 7.05 and an attractive dividend yield of 2.19%. According to InvestingPro analysis, the iconic motorcycle manufacturer grapples with a challenging market environment. This latest price level reflects a significant downturn from the company's performance over the past year, with Harley-Davidson's stock experiencing a 1-year change decrease of -10.96%. The company has maintained dividend payments for 32 consecutive years, demonstrating financial resilience despite challenges. Investors and enthusiasts alike are closely monitoring the company's strategic moves to revitalize its brand and financial health in the face of shifting consumer preferences and global economic pressures. InvestingPro subscribers have access to 10+ additional key insights and detailed analysis in the comprehensive Pro Research Report.
In other recent news, Harley-Davidson Inc. has been navigating a challenging financial landscape. The motorcycle manufacturer reported a 13% drop in global retail sales and a 26% decrease in consolidated revenue in the third quarter of 2024. Earnings per share also fell by 34% to $0.91. Despite these setbacks, U.S. retail sales remained fairly stable, decreasing by only 1% due to nearly 10% growth in the touring segment.
On the strategic front, Harley-Davidson is implementing measures to improve profitability and dealer support, with a focus on reducing inventory and cost management. The company plans to reduce dealer inventory by 20% by year-end.
In addition, the company's Board of Directors approved a quarterly cash dividend of $0.1725 per share, signaling its financial stability and commitment to shareholders.
Citi, in its recent analysis, reduced the price target for Harley-Davidson from $39 to $34 while maintaining a neutral rating. The firm cited high inventory levels and a history of persistent retail sales declines as reasons for the adjustment. These are some of the recent developments for Harley-Davidson.
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