Analysts expect that Wolverine World Wide, Inc. (NYSE:WWW) will report $576.40 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Wolverine World Wide’s earnings. The lowest sales estimate is $569.10 million and the highest is $583.20 million. Wolverine World Wide reported sales of $566.90 million in the same quarter last year, which indicates a positive year over year growth rate of 1.7%. The business is scheduled to announce its next earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that Wolverine World Wide will report full-year sales of $2.30 billion for the current fiscal year, with estimates ranging from $2.29 billion to $2.30 billion. For the next financial year, analysts forecast that the firm will post sales of $2.40 billion, with estimates ranging from $2.37 billion to $2.43 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Thursday, May 9th. The textile maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The company had revenue of $523.40 million for the quarter, compared to analysts’ expectations of $535.82 million. Wolverine World Wide had a net margin of 8.70% and a return on equity of 20.97%. Wolverine World Wide’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS.
WWW has been the subject of several research reports. ValuEngine lowered shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Zacks Investment Research lowered shares of HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. Argus lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 target price for the company. in a research report on Friday, May 17th. Finally, DA Davidson set a $40.00 target price on shares of Wolverine World Wide and gave the stock a “buy” rating in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $38.65.
In other Wolverine World Wide news, Director Jeffrey M. Boromisa purchased 10,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was acquired at an average cost of $27.92 per share, for a total transaction of $279,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.93% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of WWW. Piedmont Investment Advisors Inc. boosted its holdings in shares of Wolverine World Wide by 2.2% during the first quarter. Piedmont Investment Advisors Inc. now owns 23,010 shares of the textile maker’s stock worth $822,000 after purchasing an additional 485 shares during the period. Oregon Public Employees Retirement Fund raised its stake 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 worth $1,028,000 after buying an additional 600 shares in the last quarter. Community Financial Services Group LLC raised its stake 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 worth $337,000 after buying an additional 775 shares in the last quarter. Eagle Boston Investment Management Inc. raised its stake 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 worth $2,281,000 after buying an additional 784 shares in the last quarter. Finally, Patten Group Inc. raised its stake in Wolverine World Wide by 14.0% in the first quarter. Patten Group Inc. now owns 9,193 shares of the textile maker’s stock worth $328,000 after buying an additional 1,126 shares in the last quarter. Institutional investors and hedge funds own 91.48% of the company’s stock.
NYSE:WWW traded up $0.03 during midday trading on Tuesday, hitting $27.11. The company had a trading volume of 367,937 shares, compared to its average volume of 613,696. Wolverine World Wide has a 52-week low of $26.54 and a 52-week high of $39.77. The stock has a fifty day simple moving average of $27.59. The firm has a market cap of $2.41 billion, a P/E ratio of 12.49, a PEG ratio of 1.18 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.48 and a quick ratio of 0.85.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.40 annualized dividend and a yield of 1.48%. Wolverine World Wide’s payout ratio is 18.43%.
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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