Wolverine World Wide (WWW) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Wolverine World Wide (NYSE:WWW) posted its quarterly earnings results on Tuesday. The company reported $0.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.02, AnalystRatingsNetwork reports. The company had revenue of $740.80 million for the quarter, compared to the consensus estimate of $743.93 million.
Wolverine World Wide (NYSE:WWW) opened at 28.02 on Tuesday. Wolverine World Wide has a 1-year low of $20.91 and a 1-year high of $34.10. The stock has a 50-day moving average of $29.81 and a 200-day moving average of $29.79. The company has a market cap of $1.409 billion and a P/E ratio of 28.82.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 1st. Shareholders 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.
Several analysts have recently commented on the stock. 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 the ratings front, 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Wolverine World Wide currently 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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