Wedbush Analysts Raise Earnings Estimates for Wolverine World Wide, Inc. (WWW)

Wolverine World Wide, Inc. (NYSE:WWW) – Stock analysts at Wedbush increased their FY2017 earnings estimates for Wolverine World Wide in a research note issued on Thursday. Wedbush analyst C. Svezia now forecasts that the textile maker will earn $1.65 per share for the year, up from their previous estimate of $1.62. Wedbush also issued estimates for Wolverine World Wide’s Q4 2017 earnings at $0.42 EPS.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, November 8th. The textile maker reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $581.30 million during the quarter, compared to analysts’ expectations of $552.36 million. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 EPS.

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A number of other equities analysts have also recently weighed in on the stock. KeyCorp reissued a “hold” rating on shares of Wolverine World Wide in a research report on Wednesday, October 11th. Morgan Stanley upped their price objective on shares of Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a research report on Monday, September 25th. Robert W. Baird reissued a “buy” rating and issued a $32.00 price objective on shares of Wolverine World Wide in a research report on Sunday, September 17th. ValuEngine cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Finally, Pivotal Research initiated coverage on shares of Wolverine World Wide in a research report on Thursday, October 5th. They issued a “hold” rating and a $32.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.65.

Wolverine World Wide (NYSE WWW) opened at $27.75 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.09 and a quick ratio of 1.95. The firm has a market cap of $2,760.00, a PE ratio of 17.30, a price-to-earnings-growth ratio of 1.32 and a beta of 0.94. Wolverine World Wide has a 12-month low of $20.94 and a 12-month high of $29.62.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WWW. Systematic Financial Management LP acquired a new stake in Wolverine World Wide during the second quarter worth about $27,385,000. Prudential Financial Inc. raised its stake in Wolverine World Wide by 129.1% during the second quarter. Prudential Financial Inc. now owns 1,154,622 shares of the textile maker’s stock worth $32,341,000 after acquiring an additional 650,710 shares during the period. Citadel Advisors LLC raised its stake in Wolverine World Wide by 568.4% during the third quarter. Citadel Advisors LLC now owns 639,185 shares of the textile maker’s stock worth $18,440,000 after acquiring an additional 543,559 shares during the period. Victory Capital Management Inc. raised its stake in Wolverine World Wide by 22.1% during the third quarter. Victory Capital Management Inc. now owns 2,903,558 shares of the textile maker’s stock worth $83,768,000 after acquiring an additional 525,150 shares during the period. Finally, Marshall Wace North America L.P. raised its stake in Wolverine World Wide by 180.8% during the second quarter. Marshall Wace North America L.P. now owns 808,859 shares of the textile maker’s stock worth $22,648,000 after acquiring an additional 520,754 shares during the period. Hedge funds and other institutional investors own 91.41% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Tuesday, January 2nd will be given a dividend of $0.06 per share. The ex-dividend date is Friday, December 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. Wolverine World Wide’s payout ratio is 40.00%.

About Wolverine World Wide

Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.

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

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