Citigroup Inc. Downgrades Wolverine World Wide to Sell (WWW)
Wolverine World Wide (NYSE:WWW) was downgraded by equities researchers at Citigroup Inc. to a “sell” rating in a research report issued on Tuesday, Stock Ratings News reports.
Wolverine World Wide (NYSE:WWW) traded down 9.60% on Tuesday, hitting $25.33. 2,841,018 shares of the company’s stock traded hands. Wolverine World Wide has a 52 week low of $20.91 and a 52 week high of $34.10. The stock’s 50-day moving average is $29.81 and its 200-day moving average is $29.79. The company has a market cap of $1.274 billion and a price-to-earnings ratio of 28.65.
Wolverine World Wide (NYSE:WWW) last announced its earnings results on Tuesday, February 18th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $740.80 million for the quarter, compared to the consensus estimate of $743.93 million. On average, analysts predict that Wolverine World Wide will post $1.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 1st. Investors of record on Tuesday, April 1st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, March 28th.
WWW has been the subject of a number of other recent research reports. Analysts at Ned Davis Research upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Tuesday. Separately, analysts at Zacks downgraded shares of Wolverine World Wide from an “outperform” rating to a “neutral” rating in a research note on Tuesday, February 4th. They now have a $27.70 price target on the stock. Finally, analysts at Susquehanna cut their price target on shares of Wolverine World Wide from $32.00 to $29.00 in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $46.97.
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, performance outdoor footwear and apparel, industrial work shoes, boots and apparel, and uniform shoes and boots.
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