Wolverine World Wide, Inc. Expected to Earn Q3 2018 Earnings of $0.60 Per Share (WWW)

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.

ILLEGAL ACTIVITY WARNING: This piece of content was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of US & international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/02/24/wolverine-world-wide-inc-expected-to-earn-q3-2018-earnings-of-0-60-per-share-www.html.

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.

Earnings History and Estimates for Wolverine World Wide (NYSE:WWW)

Receive News & Ratings for Wolverine World Wide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply