Goldman Sachs Comments on Harley-Davidson 3Q Earnings

Goldman Sachs has published a research report on Harley-Davidson (NYSE: HOG) after the company reported its 3Q earnings.

In the report, Goldman Sachs writes, "Harley Davidson reported 3Q2011 EPS of $0.78 vs. our estimate of $0.74 and the Street of $0.76. Excluding special items, earnings came in at $0.81, in line with our estimate but without a $0.11 impact from a large tax benefit the company posted a large miss. The company kept shipment guidance unchanged but lowered gross margin guidance to 33.5%-34.5% from 34%-35%, previously."

Goldman Sachs maintains its Neutral rating on Harley-Davidson, which is currently trading down $2.90 from its $37.21 closing price yesterday.