Telsey Advisory Group Lowers Wolverine World Wide Price Target to $30.00 (WWW)
Investment analysts at Telsey Advisory Group decreased their price objective on shares of Wolverine World Wide (NYSE:WWW) from $34.00 to $30.00 in a note issued to investors on Wednesday, Analyst Ratings Net reports. The firm currently has a “not rated” rating on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 17.88% from the company’s current price.
Shares of Wolverine World Wide (NYSE:WWW) opened at 25.45 on Wednesday. Wolverine World Wide has a 52-week low of $20.91 and a 52-week high of $34.10. The stock has a 50-day moving average of $29.44 and a 200-day moving average of $29.78. The company has a market cap of $1.280 billion and a price-to-earnings ratio of 28.65.
Wolverine World Wide (NYSE:WWW) last announced its earnings results on Thursday, February 27th. The company reported $0.22 earnings per share for the quarter, beating the analysts’ 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 will post $1.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 1st. Investors of record on Tuesday, April 1st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, March 28th.
WWW has been the subject of a number of other recent research reports. Analysts at Piper Jaffray cut their price target on shares of Wolverine World Wide from $28.00 to $25.00 in a research note on Wednesday. Separately, analysts at Davidson cut their price target on shares of Wolverine World Wide from $30.00 to $28.00 in a research note on Wednesday. Finally, analysts at Susquehanna cut their price target on shares of Wolverine World Wide from $29.00 to $27.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Wolverine World Wide has an average rating of “Hold” and a consensus target price of $41.67.
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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