Zacks: Analysts Expect Wolverine World Wide, Inc. (NYSE:WWW) to Post $0.50 Earnings Per Share

Wall Street analysts predict that Wolverine World Wide, Inc. (NYSE:WWW) will report $0.50 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Wolverine World Wide’s earnings. Wolverine World Wide posted earnings of $0.54 per share in the same quarter last year, which would suggest a negative year over year growth rate of 7.4%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Wolverine World Wide will report full year earnings of $2.30 per share for the current fiscal year, with EPS estimates ranging from $2.25 to $2.33. For the next financial year, analysts forecast that the company will report earnings of $2.53 per share, with EPS estimates ranging from $2.42 to $2.60. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Wolverine World Wide.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Thursday, May 9th. The textile maker reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The company had revenue of $523.40 million during the quarter, compared to analyst estimates of $535.82 million. Wolverine World Wide had a return on equity of 20.97% and a net margin of 8.70%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 earnings per share.

Several research firms have recently commented on WWW. Zacks Investment Research lowered Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. DA Davidson set a $40.00 price objective on Wolverine World Wide and gave the stock a “buy” rating in a report on Friday, May 10th. Argus lowered Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 price objective for the company. in a report on Friday, May 17th. Finally, ValuEngine lowered Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.65.

Shares of NYSE:WWW traded up $0.49 during trading on Friday, hitting $27.30. 19,987 shares of the company traded hands, compared to its average volume of 870,412. The company has a market capitalization of $2.38 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The stock has a fifty day simple moving average of $28.96. Wolverine World Wide has a one year low of $26.54 and a one year high of $39.77. The company has a quick ratio of 0.85, a current ratio of 1.48 and a debt-to-equity ratio of 0.64.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Friday, June 28th. Wolverine World Wide’s dividend payout ratio (DPR) is 18.43%.

In other Wolverine World Wide news, Director Jeffrey M. Boromisa acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was acquired at an average cost of $27.92 per share, with a total value of $279,200.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.93% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in Wolverine World Wide by 216.5% during the 1st quarter. Quadrant Capital Group LLC now owns 2,453 shares of the textile maker’s stock valued at $85,000 after purchasing an additional 1,678 shares in the last quarter. Pinnacle Financial Partners Inc. bought a new position in Wolverine World Wide during the 1st quarter valued at $158,000. Investors Research Corp bought a new position in Wolverine World Wide during the 1st quarter valued at $197,000. Papp L Roy & Associates bought a new position in Wolverine World Wide during the 1st quarter valued at $218,000. Finally, Financial Counselors Inc. bought a new position in Wolverine World Wide during the 1st quarter valued at $239,000. 91.83% of the stock is owned by hedge funds and other institutional investors.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.

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