Wolverine World Wide, Inc. (NYSE:WWW) – Analysts at Wedbush raised their FY2018 earnings per share estimates for Wolverine World Wide in a research report issued on Tuesday, Zacks Investment Research reports. Wedbush analyst C. Svezia now expects that the textile maker will earn $2.02 per share for the year, up from their prior forecast of $1.95.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, November 8th. The textile maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $581.30 million for the quarter, compared to analyst estimates of $552.36 million. Wolverine World Wide had a net margin of 3.92% and a return on equity of 9.10%. Wolverine World Wide’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS.
A number of other equities research analysts have also recently issued reports on WWW. Zacks Investment Research cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Pivotal Research initiated coverage on shares of Wolverine World Wide in a research report on Thursday, October 5th. They set a “hold” rating and a $32.00 price objective for the company. Telsey Advisory Group upped their price objective on shares of Wolverine World Wide from $29.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday, November 9th. Robert W. Baird reaffirmed a “buy” rating and set a $32.00 price objective on shares of Wolverine World Wide in a research report on Sunday, September 17th. Finally, Buckingham Research upped their price objective on shares of Wolverine World Wide from $24.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, November 9th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Wolverine World Wide presently has an average rating of “Hold” and an average target price of $27.25.
Shares of Wolverine World Wide (WWW) opened at $31.77 on Wednesday. The stock has a market cap of $3,040.00, a PE ratio of 53.85, a PEG ratio of 1.35 and a beta of 0.95. Wolverine World Wide has a 52-week low of $20.94 and a 52-week high of $32.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.09 and a quick ratio of 2.06.
Several institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in Wolverine World Wide by 1.3% during the 2nd quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock valued at $138,000 after purchasing an additional 64 shares during the period. Everence Capital Management Inc. acquired a new stake in Wolverine World Wide during the 2nd quarter valued at approximately $202,000. Riverhead Capital Management LLC increased 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 valued at $214,000 after purchasing an additional 2,925 shares during the period. Teacher Retirement System of Texas acquired a new stake in Wolverine World Wide during the 2nd quarter valued at approximately $221,000. Finally, Miles Capital Inc. acquired a new stake in Wolverine World Wide during the 2nd quarter valued at approximately $222,000. 92.48% of the stock is owned by institutional investors.
In other news, Director Joseph R. Gromek sold 18,928 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $29.14, for a total value of $551,561.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Jeppesen sold 11,807 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $27.97, for a total value of $330,241.79. The disclosure for this sale can be found here. Corporate insiders own 5.65% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Tuesday, January 2nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, December 29th. Wolverine World Wide’s dividend payout ratio is currently 40.68%.
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Wolverine World Wide Company Profile
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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