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How’s Harley-Davidson Stock Trading before Q3 Earnings?

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Harley-Davidson’s Q3 2018 earnings

Harley-Davidson (HOG) is expected to release its third-quarter earnings on October 23. It’s one of the most popular heavyweight motorcycle brands in the world. Before we find out what investors could expect from its upcoming earnings, let’s see how Harley-Davidson stock is trading before its third-quarter earnings release.

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Underperforming the market

In the third quarter, the broader market continued to trade on a positive note for the second consecutive quarter. In the second and third quarters, the S&P 500 index rose 2.9% and 7.2%, respectively. Harley-Davidson stock turned positive in the third quarter and rose 7.7% after falling 1.9% in the second quarter.

In contrast, rising bond yields along with ongoing concerns about global trade tensions have hurt market sentiment at the beginning of the fourth quarter. As of October 16, the S&P 500 Index has fallen 2.6% MTD (month-to-date). Harley-Davidson has underperformed the market, falling 9% MTD.

So far in October, auto companies (XLY) Ford (F), Ferrari (RACE), and General Motors (GM) have fallen 4.9%, 11.1%, and 4%, respectively.

Harley-Davidson stock fell 12.8% in 2017 and has fallen 19% so far in 2018. Its softening sales, weak profit margins, and dismal 2018 guidance could be the reasons for investor pessimism in 2018.

Series overview

In this series, we’ll find out what analysts are estimating for Harley-Davidson’s third quarter of 2018 results. We’ll also look at its revenue and margin estimates, its valuation multiples, and its key technical levels.

Before moving on to Harley-Davidson’s third-quarter earnings estimates, let’s do a quick recap of its most recent earnings results.

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