FY2024 Earnings Estimate for Wolverine World Wide, Inc. (NYSE:WWW) Issued By Seaport Res Ptn

Wolverine World Wide, Inc. (NYSE:WWW) – Investment analysts at Seaport Res Ptn raised their FY2024 earnings estimates for shares of Wolverine World Wide in a research report issued on Monday, May 6th. Seaport Res Ptn analyst M. Kummetz now anticipates that the textile maker will post earnings per share of $0.80 for the year, up from their previous estimate of $0.75. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Wolverine World Wide’s current full-year earnings is $0.77 per share. Seaport Res Ptn also issued estimates for Wolverine World Wide’s Q4 2024 earnings at $0.14 EPS, FY2025 earnings at $1.33 EPS and FY2026 earnings at $1.77 EPS.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. The company had revenue of $526.70 million during the quarter, compared to the consensus estimate of $520.12 million. During the same period in the prior year, the company earned ($0.15) earnings per share. The firm’s revenue was down 20.8% compared to the same quarter last year.

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and set a $10.00 target price on shares of Wolverine World Wide in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Wolverine World Wide has a consensus rating of “Hold” and an average target price of $10.63.

Wolverine World Wide Stock Up 11.5 %

Shares of WWW opened at $12.73 on Thursday. Wolverine World Wide has a 12 month low of $7.21 and a 12 month high of $17.85. The firm’s 50 day moving average is $10.26 and its 200-day moving average is $9.27. The stock has a market capitalization of $1.02 billion, a PE ratio of -24.96 and a beta of 1.73. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, July 1st. Wolverine World Wide’s payout ratio is currently -78.43%.

Hedge Funds Weigh In On Wolverine World Wide

Hedge funds have recently modified their holdings of the business. Callodine Capital Management LP bought a new position in Wolverine World Wide during the 3rd quarter worth $8,060,000. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Wolverine World Wide in the fourth quarter valued at about $2,563,000. Charles Schwab Investment Management Inc. raised its position in shares of Wolverine World Wide by 18.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,668,623 shares of the textile maker’s stock worth $13,449,000 after acquiring an additional 255,872 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Wolverine World Wide by 13.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,446,579 shares of the textile maker’s stock valued at $11,659,000 after acquiring an additional 175,039 shares during the last quarter. Finally, Wolverine Asset Management LLC grew its stake in Wolverine World Wide by 493.5% during the third quarter. Wolverine Asset Management LLC now owns 193,757 shares of the textile maker’s stock worth $1,562,000 after purchasing an additional 161,109 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.