Wolverine World Wide (NYSE:WWW) Issues FY24 Earnings Guidance

Wolverine World Wide (NYSE:WWW) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $0.65 to $0.85 for the period, compared to the consensus EPS estimate of $0.77. The company issued revenue guidance of $1.680 billion to $1.730 billion from $1.70 billion to $1.75 b, compared to the consensus revenue estimate of $1.72 billion. Wolverine World Wide also updated its FY 2024 guidance to 0.650-0.850 EPS.

Wolverine World Wide Stock Up 12.0 %

Shares of NYSE WWW traded up $1.37 during midday trading on Wednesday, hitting $12.79. 1,318,078 shares of the stock traded hands, compared to its average volume of 879,925. The company has a market cap of $1.02 billion, a PE ratio of -24.88 and a beta of 1.73. The business has a 50 day moving average price of $10.20 and a two-hundred day moving average price of $9.24. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.75 and a current ratio of 1.18. Wolverine World Wide has a one year low of $7.21 and a one year high of $17.85.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. The business had revenue of $526.70 million during the quarter, compared to the consensus estimate of $520.12 million. During the same period in the previous year, the business posted ($0.15) EPS. Wolverine World Wide’s revenue was down 20.8% compared to the same quarter last year. On average, equities analysts predict that Wolverine World Wide will post 0.77 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date is Monday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 3.13%. Wolverine World Wide’s payout ratio is -78.43%.

Analyst Ratings Changes

Several research firms have weighed in on WWW. Seaport Res Ptn raised Wolverine World Wide from a neutral rating to a buy rating in a research report on Monday. Telsey Advisory Group reissued a market perform rating and issued a $10.00 price objective on shares of Wolverine World Wide in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $10.63.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.