Wolverine World Wide Receives Average Recommendation of “Hold” from Analysts (NYSE:WWW)
Wolverine World Wide (NYSE:WWW) has been given an average rating of “Hold” by the sixteen ratings firms that are covering the company, American Banking & Market News reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $34.64.
A number of analysts have recently weighed in on WWW shares. Analysts at TheStreet upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Separately, analysts at DA Davidson reiterated a “neutral” rating on shares of Wolverine World Wide in a research note on Tuesday, April 29th. They now have a $30.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “sell” rating on shares of Wolverine World Wide in a research note on Wednesday, April 30th. They now have a $26.00 price target on the stock.
Wolverine World Wide (NYSE:WWW) opened at 25.87 on Friday. Wolverine World Wide has a one year low of $24.715 and a one year high of $34.10. The stock has a 50-day moving average of $26.77 and a 200-day moving average of $28.93. The company has a market cap of $2.624 billion and a price-to-earnings ratio of 24.54.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.08. The company had revenue of $627.60 million for the quarter, compared to the consensus estimate of $625.42 million. During the same quarter last year, the company posted $0.81 earnings per share. Wolverine World Wide’s revenue was down 2.8% compared to the same quarter last year. Analysts expect that Wolverine World Wide will post $1.60 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 1st. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, June 27th.
In other Wolverine World Wide news, Director William Gerber sold 2,020 shares of Wolverine World Wide stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $26.26, for a total transaction of $53,045.20. Following the completion of the sale, the director now directly owns 8,000 shares in the company, valued at approximately $210,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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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