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.
ILLEGAL ACTIVITY NOTICE: This report was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://www.dispatchtribunal.com/2017/11/12/wedbush-analysts-raise-earnings-estimates-for-wolverine-world-wide-inc-www.html.
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.
Receive News & Ratings for Wolverine World Wide Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide Inc. and related companies with MarketBeat.com's FREE daily email newsletter.