Analysts predict that Wolverine World Wide, Inc. (NYSE:WWW) will post $592.72 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Wolverine World Wide’s earnings, with estimates ranging from $588.00 million to $598.20 million. Wolverine World Wide posted sales of $729.60 million in the same quarter last year, which suggests a negative year over year growth rate of 18.8%. The firm is expected to report its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that Wolverine World Wide will report full year sales of $592.72 million for the current financial year, with estimates ranging from $2.36 billion to $2.37 billion. For the next financial year, analysts anticipate that the business will report sales of $2.33 billion per share, with estimates ranging from $2.28 billion to $2.42 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, November 8th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.06. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The company had revenue of $581.30 million during the quarter, compared to the consensus estimate of $552.36 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year.
WWW has been the subject of several research reports. 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. KeyCorp reaffirmed a “hold” rating on shares of Wolverine World Wide in a research report on Wednesday, October 11th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $25.00 target price on shares of Wolverine World Wide in a research report on Wednesday, November 1st. Telsey Advisory Group raised their target price on shares of Wolverine World Wide from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Thursday, November 9th. Finally, Buckingham Research raised their target price on shares of Wolverine World Wide from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Wolverine World Wide currently has an average rating of “Hold” and a consensus target price of $27.25.
In related news, Director Joseph R. Gromek sold 18,928 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were 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 accessible through the SEC website. Also, insider Michael Jeppesen sold 11,807 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $27.97, for a total transaction of $330,241.79. The disclosure for this sale can be found here. 5.65% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Wolverine World Wide by 50.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,883 shares of the textile maker’s stock valued at $156,000 after acquiring an additional 1,646 shares during the period. Community Financial Services Group LLC bought a new position in shares of Wolverine World Wide in the 4th quarter valued at about $212,000. Miles Capital Inc. bought a new position in shares of Wolverine World Wide in the 2nd quarter valued at about $222,000. Advisory Services Network LLC grew its position in shares of Wolverine World Wide by 5.3% in the 2nd quarter. Advisory Services Network LLC now owns 8,336 shares of the textile maker’s stock valued at $234,000 after acquiring an additional 421 shares during the period. Finally, Bayesian Capital Management LP bought a new position in shares of Wolverine World Wide in the 2nd quarter valued at about $246,000. 92.42% of the stock is owned by institutional investors.
Shares of Wolverine World Wide (NYSE WWW) traded down $0.17 during mid-day trading on Friday, hitting $32.83. 517,500 shares of the stock traded hands, compared to its average volume of 737,157. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.09 and a quick ratio of 2.06. Wolverine World Wide has a 52 week low of $20.94 and a 52 week high of $33.82. The company has a market capitalization of $3,170.00, a P/E ratio of 56.07, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95.
The firm 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 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Friday, December 29th. Wolverine World Wide’s dividend payout ratio (DPR) is currently 40.68%.
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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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