Wolverine World Wide, Inc. (NYSE:WWW) – KeyCorp increased their Q3 2018 earnings per share estimates for Wolverine World Wide in a research note issued to investors on Thursday. KeyCorp analyst E. Yruma now anticipates that the textile maker will post earnings per share of $0.60 for the quarter, up from their prior forecast of $0.56. KeyCorp also issued estimates for Wolverine World Wide’s Q4 2018 earnings at $0.57 EPS and FY2019 earnings at $2.15 EPS.
Other research analysts also recently issued research reports about the company. DA Davidson upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Thursday. Zacks Investment Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Thursday, February 15th. Stifel Nicolaus set a $34.00 price objective on Wolverine World Wide and gave the company a “buy” rating in a report on Saturday, December 16th. Pivotal Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price objective for the company from $32.00 to $33.00 in a report on Wednesday, November 8th. Finally, TheStreet downgraded Wolverine World Wide from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.88.
Shares of Wolverine World Wide (NYSE:WWW) opened at $29.73 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.06 and a debt-to-equity ratio of 0.78. Wolverine World Wide has a 1-year low of $23.45 and a 1-year high of $33.82. The firm has a market capitalization of $2,935.48, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.21 and a beta of 0.92.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, February 21st. The textile maker reported $0.41 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. Wolverine World Wide had a return on equity of 16.20% and a net margin of 0.01%. The company had revenue of $578.60 million for the quarter, compared to the consensus estimate of $579.87 million. During the same quarter in the prior year, the business earned $0.34 EPS. Wolverine World Wide’s revenue was down 20.7% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, April 2nd will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This is a boost from Wolverine World Wide’s previous quarterly dividend of $0.06. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.08%. Wolverine World Wide’s dividend payout ratio is -800.00%.
In related news, Director Joseph R. Gromek sold 18,928 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $29.14, for a total value of $551,561.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.65% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in WWW. Earnest Partners LLC acquired a new stake in shares of Wolverine World Wide in the 4th quarter valued at about $48,417,000. Citadel Advisors LLC lifted its position in Wolverine World Wide by 568.4% during the 3rd 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. lifted its position in Wolverine World Wide by 22.1% during the 3rd 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. Prudential Financial Inc. lifted its position in Wolverine World Wide by 30.1% during the 3rd quarter. Prudential Financial Inc. now owns 1,501,962 shares of the textile maker’s stock worth $43,332,000 after acquiring an additional 347,340 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new stake in Wolverine World Wide during the 2nd quarter worth approximately $9,618,000. 93.12% of the stock is owned by hedge funds and other institutional investors.
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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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