Analysts expect that Wolverine World Wide, Inc. (NYSE:WWW) will report earnings per share (EPS) of $0.29 for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Wolverine World Wide’s earnings. The lowest EPS estimate is $0.28 and the highest is $0.31. Wolverine World Wide posted earnings of $0.25 per share in the same quarter last year, which would suggest a positive year over year growth rate of 16%. The firm is expected to issue its next quarterly earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that Wolverine World Wide will report full-year earnings of $1.56 per share for the current fiscal year, with EPS estimates ranging from $1.53 to $1.58. For the next financial year, analysts expect that the company will post earnings of $1.82 per share, with EPS estimates ranging from $1.72 to $1.95. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, May 10th. The textile maker reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.06. The company had revenue of $591.30 million during the quarter, compared to analysts’ expectations of $557.53 million. Wolverine World Wide had a return on equity of 14.14% and a net margin of 3.47%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS.
Several analysts have recently weighed in on WWW shares. Zacks Investment Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, April 26th. B. Riley reissued a “neutral” rating and set a $26.00 price objective on shares of Wolverine World Wide in a report on Monday, May 8th. Telsey Advisory Group lifted their price objective on Wolverine World Wide from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, May 11th. Piper Jaffray Companies reissued a “hold” rating and set a $24.00 price objective on shares of Wolverine World Wide in a report on Thursday, May 11th. Finally, Wedbush lifted their price objective on Wolverine World Wide from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Wolverine World Wide presently has a consensus rating of “Hold” and a consensus price target of $23.57.
Hedge funds have recently made changes to their positions in the stock. Airain ltd bought a new stake in shares of Wolverine World Wide during the first quarter valued at approximately $448,000. Tudor Investment Corp Et Al bought a new stake in shares of Wolverine World Wide during the fourth quarter valued at approximately $235,000. State Street Corp raised its stake in shares of Wolverine World Wide by 5.4% in the fourth quarter. State Street Corp now owns 2,197,941 shares of the textile maker’s stock valued at $48,244,000 after buying an additional 113,017 shares in the last quarter. FMR LLC raised its stake in shares of Wolverine World Wide by 217.6% in the fourth quarter. FMR LLC now owns 1,813,364 shares of the textile maker’s stock valued at $39,803,000 after buying an additional 1,242,338 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Wolverine World Wide during the fourth quarter valued at approximately $35,744,000. 92.79% of the stock is currently owned by institutional investors and hedge funds.
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Wolverine World Wide (WWW) traded up 1.07% during trading on Monday, hitting $27.45. The stock had a trading volume of 376,769 shares. Wolverine World Wide has a 52 week low of $19.71 and a 52 week high of $27.58. The company’s 50-day moving average is $26.00 and its 200 day moving average is $24.40. The firm has a market cap of $2.66 billion, a PE ratio of 31.16 and a beta of 0.94.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 3rd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, June 29th. Wolverine World Wide’s dividend payout ratio is 27.27%.
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, Chaco footwear, and Sebago footwear and apparel; 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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