Wolverine World Wide (NYSE:WWW) released its quarterly earnings results on Thursday. The textile maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05, Briefing.com reports. The firm had revenue of $574.30 million for the quarter, compared to analyst estimates of $575.97 million. Wolverine World Wide had a return on equity of 21.21% and a net margin of 8.02%. Wolverine World Wide’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS. Wolverine World Wide updated its FY19 guidance to $2.25 EPS.
Shares of WWW traded up $1.87 during trading on Friday, reaching $33.49. The company’s stock had a trading volume of 1,669,417 shares, compared to its average volume of 772,080. The company has a fifty day moving average of $28.74 and a two-hundred day moving average of $28.51. Wolverine World Wide has a twelve month low of $23.05 and a twelve month high of $39.72. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 15.43 and a beta of 1.06. The company has a quick ratio of 0.70, a current ratio of 1.25 and a debt-to-equity ratio of 0.68.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, December 31st. Wolverine World Wide’s payout ratio is 18.43%.
WWW has been the topic of several recent research reports. ValuEngine raised Wolverine World Wide from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on Wolverine World Wide from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday. Pivotal Research boosted their price target on Wolverine World Wide from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday. DA Davidson reissued a “buy” rating on shares of Wolverine World Wide in a research report on Monday, November 4th. Finally, Wedbush reissued an “outperform” rating on shares of Wolverine World Wide in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $36.60.
Wolverine World Wide declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 11th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the textile maker to repurchase up to 17.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Wolverine World Wide Company Profile
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.
Further Reading: Capital Gains Distribution
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