Equities analysts forecast that Wolverine World Wide, Inc. (NYSE:WWW) will report $577.25 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Wolverine World Wide’s earnings, with the highest sales estimate coming in at $592.20 million and the lowest estimate coming in at $572.20 million. Wolverine World Wide posted sales of $558.60 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.3%. The company is scheduled to issue its next earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that Wolverine World Wide will report full-year sales of $2.28 billion for the current year, with estimates ranging from $2.28 billion to $2.30 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.38 billion, with estimates ranging from $2.36 billion to $2.39 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. Wolverine World Wide had a net margin of 8.02% and a return on equity of 21.21%. The firm had revenue of $568.60 million for the quarter, compared to the consensus estimate of $575.24 million. During the same period last year, the firm posted $0.54 earnings per share. The business’s revenue was up .3% compared to the same quarter last year.
Several brokerages have recently issued reports on WWW. ValuEngine cut shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Pivotal Research restated a “hold” rating and issued a $30.00 target price (down previously from $34.00) on shares of Wolverine World Wide in a report on Friday, August 2nd. Telsey Advisory Group restated a “market perform” rating and issued a $34.00 target price (down previously from $38.00) on shares of Wolverine World Wide in a report on Monday, August 5th. Zacks Investment Research cut shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. Finally, Argus cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 target price on the stock. in a report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $37.32.
Shares of Wolverine World Wide stock traded down $1.21 on Wednesday, hitting $23.86. The stock had a trading volume of 943,128 shares, compared to its average volume of 753,307. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.70 and a current ratio of 1.25. Wolverine World Wide has a one year low of $23.78 and a one year high of $39.77. The firm has a market cap of $2.19 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 0.75 and a beta of 1.08. The firm has a 50-day moving average of $27.02.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, September 30th. Wolverine World Wide’s dividend payout ratio (DPR) is currently 18.43%.
In related news, Director Jeffrey M. Boromisa purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average price of $27.92 per share, for a total transaction of $279,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.93% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Bridge City Capital LLC boosted its holdings in Wolverine World Wide by 0.5% in the second quarter. Bridge City Capital LLC now owns 92,618 shares of the textile maker’s stock valued at $2,551,000 after acquiring an additional 456 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its holdings in Wolverine World Wide by 2.2% in the first quarter. Piedmont Investment Advisors Inc. now owns 23,010 shares of the textile maker’s stock valued at $822,000 after acquiring an additional 485 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Wolverine World Wide by 1.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 37,331 shares of the textile maker’s stock valued at $1,028,000 after acquiring an additional 600 shares in the last quarter. Community Financial Services Group LLC boosted its holdings in Wolverine World Wide by 8.9% in the first quarter. Community Financial Services Group LLC now owns 9,440 shares of the textile maker’s stock valued at $337,000 after acquiring an additional 775 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. boosted its holdings in Wolverine World Wide by 1.2% in the first quarter. Eagle Boston Investment Management Inc. now owns 63,858 shares of the textile maker’s stock valued at $2,281,000 after acquiring an additional 784 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.
About Wolverine World Wide
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.
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