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Motorcycle maker Harley-Davidson, Inc. ( HOG ) on Wednesday posted a big uptick in first quarter earnings, beating analyst estimates and sending its shares higher in premarket trading.

The Milwaukee-based company reported first quarter net income of $172 million, or 74 cents per share, compared with $119.3 million, or 51 cents per share, in the year-ago period.

Revenue rose 20% from last year to $1.27 billion.

On average, Wall Street analysts expected a smaller profit of 72 cents per share, on lower revenue of $1.22 billion.

Due to the positive Q1 results, HOG said it now expects to ship between 245,000 and 250,000 motorcycles this year, up from a prior forecast of 240,000 to 245,000.

Harley-Davidson shares rose $1.94, or +3.9%, in premarket trading Wednesday.

The Bottom Line
Shares of Harley-Davidson ( HOG ) have a 1.23% dividend yield, based on last night's closing stock price of $50.36. The stock has technical support in the $43-$45 price area. If the shares the can firm up, we see overhead resistance around the $53-$57 price levels.

Harley-Davidson, Inc. ( HOG ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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