Wolverine World Wide Stock Rating Lowered by Argus (WWW)
Wolverine World Wide (NYSE:WWW) was downgraded by analysts at Argus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, TheFlyOnTheWall.com reports.
Shares of Wolverine World Wide (NYSE:WWW) opened at 24.54 on Friday. Wolverine World Wide has a one year low of $24.34 and a one year high of $34.10. The stock has a 50-day moving average of $26.22 and a 200-day moving average of $27.3. The company has a market cap of $2.488 billion and a price-to-earnings ratio of 21.11.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The company had revenue of $613.50 million for the quarter, compared to the consensus estimate of $608.50 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that Wolverine World Wide will post $1.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, November 3rd. Investors of record on Wednesday, October 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 0.98%. The ex-dividend date of this dividend is Monday, September 29th.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of Wolverine World Wide in a research note on Wednesday. They now have a $24.00 price target on the stock, down previously from $26.00. Separately, 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. Finally, 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. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Wolverine World Wide has a consensus rating of “Hold” and a consensus target price of $29.41.
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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