Wolverine World Wide Inc. (WWW) Releases FY14 Earnings Guidance
Wolverine World Wide Inc. (NYSE:WWW) updated its FY14 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.57-1.63 for the period, compared to the Thomson Reuters consensus estimate of $1.67, Analyst Ratings News reports. The company issued revenue guidance of $2.775-2.85 billion, compared to the consensus revenue estimate of $2.84 billion.
Wolverine World Wide Inc. (NYSE:WWW) opened at 28.02 on Tuesday. Wolverine World Wide Inc. 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 $1.409 billion and a price-to-earnings ratio of 28.65.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters 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. Analysts expect that Wolverine World Wide Inc. will post $1.42 EPS 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 recent research reports. 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. On a related note, 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. Finally, analysts at Telsey Advisory Group cut their price target on shares of Wolverine World Wide from $38.00 to $34.00 in a research note on Tuesday, January 14th. They now have a not rated rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $47.17.
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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