Wolverine World Wide Inc. to Post FY2017 Earnings of $1.54 Per Share, DA Davidson Forecasts (WWW)
Wolverine World Wide Inc. (NYSE:WWW) – Investment analysts at DA Davidson lowered their FY2017 EPS estimates for shares of Wolverine World Wide in a research note issued on Wednesday. DA Davidson analyst A. Burns now expects that the firm will post earnings of $1.54 per share for the year, down from their prior forecast of $1.55.
A number of other brokerages have also commented on WWW. Zacks Investment Research upgraded Wolverine World Wide from a “sell” rating to a “hold” rating and set a $27.00 price target for the company in a report on Thursday, July 28th. B. Riley reiterated a “neutral” rating and set a $26.00 price target on shares of Wolverine World Wide in a report on Friday, August 26th. Telsey Advisory Group upped their price target on Wolverine World Wide from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Susquehanna assumed coverage on Wolverine World Wide in a report on Friday, August 12th. They set a “negative” rating and a $20.00 price target for the company. Finally, Argus reiterated a “buy” rating on shares of Wolverine World Wide in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.30.
Shares of Wolverine World Wide (NYSE:WWW) opened at 22.56 on Monday. The firm has a market cap of $2.24 billion, a P/E ratio of 22.86 and a beta of 0.76. The company has a 50-day moving average of $22.98 and a 200 day moving average of $21.03. Wolverine World Wide has a 12-month low of $14.74 and a 12-month high of $25.54.
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Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. Wolverine World Wide had a net margin of 3.81% and a return on equity of 13.60%. The company earned $583.70 million during the quarter, compared to the consensus estimate of $578.99 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WWW. Tower Research Capital LLC TRC boosted its stake in shares of Wolverine World Wide by 449.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,373 shares of the company’s stock valued at $109,000 after buying an additional 4,395 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Wolverine World Wide by 126.1% in the first quarter. BlackRock Inc. now owns 6,967 shares of the company’s stock valued at $128,000 after buying an additional 3,885 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Wolverine World Wide during the second quarter valued at approximately $209,000. Denver Investment Advisors LLC acquired a new stake in shares of Wolverine World Wide during the second quarter valued at approximately $217,000. Finally, Amalgamated Bank boosted its stake in shares of Wolverine World Wide by 5.9% in the second quarter. Amalgamated Bank now owns 11,509 shares of the company’s stock valued at $276,000 after buying an additional 639 shares during the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.
About Wolverine World Wide
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. The Company’s products are marketed around the world in approximately 200 countries and territories through Company-owned wholesale and consumer-direct operations, and third-party licensees and distributors.
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