Wolverine World Wide (NYSE:WWW) Updates FY 2021 Earnings Guidance

Wolverine World Wide (NYSE:WWW) updated its FY 2021 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.050-$2.100 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.280. The company issued revenue guidance of $2.40 billion-$2.40 billion, compared to the consensus revenue estimate of $2.48 billion.

A number of analysts have recently weighed in on the stock. Telsey Advisory Group reduced their price target on shares of Wolverine World Wide from $45.00 to $38.00 and set a market perform rating for the company in a research note on Friday, July 30th. Zacks Investment Research lowered shares of Wolverine World Wide from a hold rating to a strong sell rating and set a $29.00 price target for the company. in a research note on Monday, November 15th. Robert W. Baird upped their price target on shares of Wolverine World Wide from $45.00 to $49.00 and gave the stock an outperform rating in a research note on Wednesday, August 4th. BNP Paribas raised shares of Wolverine World Wide from a neutral rating to an outperform rating and set a $45.00 price target for the company in a research note on Tuesday, August 10th. Finally, Exane BNP Paribas raised shares of Wolverine World Wide from a neutral rating to an outperform rating and set a $45.00 price target for the company in a research note on Tuesday, August 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $42.56.

Shares of NYSE WWW traded down $0.42 during midday trading on Thursday, reaching $33.50. The company’s stock had a trading volume of 426,352 shares, compared to its average volume of 505,048. The company has a current ratio of 1.18, a quick ratio of 1.44 and a debt-to-equity ratio of 1.10. The company has a 50 day moving average price of $32.83 and a 200 day moving average price of $34.37. Wolverine World Wide has a one year low of $28.45 and a one year high of $44.74. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -29.91, a price-to-earnings-growth ratio of 1.62 and a beta of 1.84.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, November 10th. The textile maker reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Wolverine World Wide had a negative net margin of 3.85% and a positive return on equity of 25.38%. The business had revenue of $636.70 million for the quarter, compared to analyst estimates of $654.14 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. Research analysts anticipate that Wolverine World Wide will post 2.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 1st. Stockholders of record on Monday, January 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, December 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.19%. Wolverine World Wide’s dividend payout ratio is currently -35.71%.

In related news, CFO Michael D. Stornant sold 20,686 shares of the company’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $34.35, for a total transaction of $710,564.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William K. Gerber sold 5,662 shares of the company’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $34.24, for a total transaction of $193,866.88. The disclosure for this sale can be found here. Insiders have sold 33,309 shares of company stock worth $1,153,736 in the last 90 days. 4.73% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its stake in shares of Wolverine World Wide by 132.8% in the 2nd quarter. Morgan Stanley now owns 473,595 shares of the textile maker’s stock valued at $15,930,000 after buying an additional 270,183 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Wolverine World Wide in the 3rd quarter valued at $247,000. Royal Bank of Canada raised its stake in shares of Wolverine World Wide by 13.6% in the 3rd quarter. Royal Bank of Canada now owns 28,755 shares of the textile maker’s stock valued at $856,000 after buying an additional 3,436 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of Wolverine World Wide by 25.9% during the 3rd quarter. LPL Financial LLC now owns 9,747 shares of the textile maker’s stock worth $291,000 after purchasing an additional 2,005 shares in the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc engages in the design, manufacture and sale of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group consists of Merrell footwear and apparel, Cat footwear, Wolverine footwear and apparel, Chaco footwear, Hush Puppies footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and Hytest safety footwear.

Further Reading: Net Margin

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

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