Wolverine World Wide (NYSE:WWW) Updates FY 2021 Earnings Guidance

Wolverine World Wide (NYSE:WWW) issued an update on its FY 2021 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.050-$2.100 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.280. The company issued revenue guidance of $2.40 billion-$2.40 billion, compared to the consensus revenue estimate of $2.48 billion.

Wolverine World Wide stock traded down $0.42 during midday trading on Thursday, reaching $33.50. 426,352 shares of the stock traded hands, compared to its average volume of 505,048. Wolverine World Wide has a 12 month low of $28.45 and a 12 month high of $44.74. The company has a quick ratio of 1.44, a current ratio of 1.18 and a debt-to-equity ratio of 1.10. The stock’s fifty day moving average is $32.83 and its 200-day moving average is $34.37. The stock has a market cap of $2.76 billion, a P/E ratio of -29.91, a PEG ratio of 1.62 and a beta of 1.84.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, November 10th. The textile maker reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Wolverine World Wide had a positive return on equity of 25.38% and a negative net margin of 3.85%. The business had revenue of $636.70 million for the quarter, compared to the consensus estimate of $654.14 million. During the same period in the prior year, the business posted $0.35 earnings per share. On average, equities analysts predict that Wolverine World Wide will post 2.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Monday, January 3rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 31st. This represents a $0.40 annualized dividend and a yield of 1.19%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -35.71%.

A number of research firms have recently weighed in on WWW. Exane BNP Paribas raised Wolverine World Wide from a neutral rating to an outperform rating and set a $45.00 price objective for the company in a research report on Tuesday, August 10th. Zacks Investment Research lowered Wolverine World Wide from a hold rating to a strong sell rating and set a $29.00 price objective for the company. in a research note on Monday, November 15th. Robert W. Baird lifted their price target on Wolverine World Wide from $45.00 to $49.00 and gave the company an outperform rating in a research note on Wednesday, August 4th. BNP Paribas upgraded Wolverine World Wide from a neutral rating to an outperform rating and set a $45.00 price target for the company in a research note on Tuesday, August 10th. Finally, Telsey Advisory Group cut their price target on Wolverine World Wide from $45.00 to $38.00 and set a market perform rating for the company in a research note on Friday, July 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Buy and a consensus price target of $42.56.

In other Wolverine World Wide news, CFO Michael D. Stornant sold 20,686 shares of the company’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $34.35, for a total value of $710,564.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William K. Gerber sold 5,662 shares of the company’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $34.24, for a total transaction of $193,866.88. The disclosure for this sale can be found here. Insiders have sold 33,309 shares of company stock worth $1,153,736 in the last ninety days. Corporate insiders own 4.73% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Morgan Stanley increased its stake in shares of Wolverine World Wide by 132.8% during the 2nd quarter. Morgan Stanley now owns 473,595 shares of the textile maker’s stock worth $15,930,000 after purchasing an additional 270,183 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Wolverine World Wide by 13.6% during the 3rd quarter. Royal Bank of Canada now owns 28,755 shares of the textile maker’s stock worth $856,000 after purchasing an additional 3,436 shares in the last quarter. LPL Financial LLC increased its stake in shares of Wolverine World Wide by 25.9% during the 3rd quarter. LPL Financial LLC now owns 9,747 shares of the textile maker’s stock worth $291,000 after purchasing an additional 2,005 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in shares of Wolverine World Wide during the 3rd quarter worth approximately $247,000. 91.15% of the stock is owned by institutional investors.

About Wolverine World Wide

Wolverine World Wide, Inc engages in the design, manufacture and sale of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group consists of Merrell footwear and apparel, Cat footwear, Wolverine footwear and apparel, Chaco footwear, Hush Puppies footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and Hytest safety footwear.

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Earnings History and Estimates for Wolverine World Wide (NYSE:WWW)

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