Wolverine World Wide, Inc. (NYSE:WWW) – Investment analysts at KeyCorp decreased their Q4 2017 earnings estimates for shares of Wolverine World Wide in a report issued on Wednesday. KeyCorp analyst E. Yruma now forecasts that the textile maker will earn $0.40 per share for the quarter, down from their prior estimate of $0.42. KeyCorp has a “Hold” rating on the stock.
Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 8th. The textile maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $581.30 million for the quarter, compared to the consensus estimate of $552.36 million. Wolverine World Wide had a return on equity of 15.25% and a net margin of 2.35%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 earnings per share.
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Several other equities research analysts have also recently weighed in on the company. TheStreet cut Wolverine World Wide from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. Buckingham Research upped their target price on Wolverine World Wide from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, November 9th. Telsey Advisory Group upped their target price on Wolverine World Wide from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, November 9th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $26.00 target price on shares of Wolverine World Wide in a research note on Wednesday, November 8th. Finally, Pivotal Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price target for the company from $32.00 to $33.00 in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $25.65.
Shares of Wolverine World Wide (WWW) opened at $28.04 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.09 and a quick ratio of 2.06. The company has a market capitalization of $2,659.92, a PE ratio of 17.82, a P/E/G ratio of 1.36 and a beta of 0.94. Wolverine World Wide has a 52-week low of $20.94 and a 52-week high of $29.62.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Tuesday, January 2nd will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 29th. Wolverine World Wide’s payout ratio is 40.00%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WWW. Bank of Montreal Can increased its position in shares of Wolverine World Wide by 1.3% in the 2nd quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock valued at $138,000 after acquiring an additional 64 shares during the period. Everence Capital Management Inc. acquired a new position in shares of Wolverine World Wide in the 2nd quarter valued at $202,000. Papp L Roy & Associates acquired a new stake in Wolverine World Wide during the 2nd quarter worth about $204,000. Riverhead Capital Management LLC grew its position in Wolverine World Wide by 62.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,625 shares of the textile maker’s stock worth $214,000 after purchasing an additional 2,925 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in Wolverine World Wide during the 2nd quarter worth about $221,000. 91.51% of the stock is currently owned by hedge funds and other institutional investors.
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.
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