Benzinga | Jul 28, 2020 11:03AM EDT

Why Harley-Davidson's Stock Is Trading Lower Today

Harley-Davidson (NYSE:HOG) shares are trading lower on Tuesday after the company reported second-quarter earnings results.

The company's earnings per share decreased 123.97% year over year to 35 cents, which does not compare to the estimate of 8 cents.

The company reported quarterly sales of $865 million, which beat the analyst consensus estimate of $829.94 million.

Harley-Davidson is the world's leading manufacturer of heavyweight motorcycles, merchandise, parts, and accessories. It sells custom, cruiser, and touring motorcycles and offers a complete line of Harley-Davidson motorcycle parts, accessories, riding gear, and apparel, as well as merchandise.

Harley-Davidson Financial Services provides wholesale financing to dealers and retail financing and insurance brokerage services to customers. Harley captures about half of all heavyweight domestic retail motorcycle registrations. We expect the firm will be present in electric, middleweight, and small-displacement markets by 2021.

Harley-Davidson shares were trading down 8.16% at $26.89 on Tuesday. The stock has a 52-week high of $40.89 and a 52-week low of $14.31.