Wall Street analysts expect that Wolverine World Wide, Inc. (NYSE:WWW) will announce $0.63 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Wolverine World Wide’s earnings. Wolverine World Wide posted earnings of $0.62 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.6%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, November 7th.
According to Zacks, analysts expect that Wolverine World Wide will report full-year earnings of $2.28 per share for the current financial year, with EPS estimates ranging from $2.28 to $2.29. For the next fiscal year, analysts expect that the company will post earnings of $2.51 per share, with EPS estimates ranging from $2.46 to $2.60. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $568.60 million for the quarter, compared to analysts’ expectations of $575.24 million. Wolverine World Wide had a net margin of 8.02% and a return on equity of 21.21%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS.
A number of equities research analysts have recently commented on the stock. Wedbush reaffirmed an “outperform” rating on shares of Wolverine World Wide in a research note on Tuesday, October 1st. ValuEngine upgraded Wolverine World Wide from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus set a $36.00 target price on Wolverine World Wide and gave the company a “buy” rating in a research report on Monday, September 9th. DA Davidson reiterated a “buy” rating on shares of Wolverine World Wide in a research report on Monday. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $34.00 target price (down previously from $38.00) on shares of Wolverine World Wide in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Wolverine World Wide has a consensus rating of “Hold” and a consensus target price of $36.80.
Several large investors have recently made changes to their positions in WWW. Tower Research Capital LLC TRC raised its holdings in shares of Wolverine World Wide by 719.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,639 shares of the textile maker’s stock worth $45,000 after acquiring an additional 1,439 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Wolverine World Wide by 147.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,060 shares of the textile maker’s stock worth $115,000 after acquiring an additional 2,421 shares during the period. CIBC Asset Management Inc purchased a new position in shares of Wolverine World Wide during the 3rd quarter worth $203,000. M&T Bank Corp raised its holdings in shares of Wolverine World Wide by 14.9% during the 2nd quarter. M&T Bank Corp now owns 8,924 shares of the textile maker’s stock worth $245,000 after acquiring an additional 1,160 shares during the period. Finally, Palouse Capital Management Inc. purchased a new position in shares of Wolverine World Wide during the 3rd quarter worth $268,000. Hedge funds and other institutional investors own 92.49% of the company’s stock.
Shares of NYSE WWW opened at $30.25 on Monday. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 13.94 and a beta of 1.06. Wolverine World Wide has a 12 month low of $23.05 and a 12 month high of $39.72. The firm’s 50 day simple moving average is $28.59 and its 200-day simple moving average is $28.55. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.25 and a quick ratio of 0.70.
Wolverine World Wide declared that its Board of Directors has initiated a share repurchase plan on Wednesday, September 11th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the textile maker to buy up to 17.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.32%. Wolverine World Wide’s dividend payout ratio (DPR) is 18.43%.
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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