Wolverine World Wide Inc. (WWW) Issues FY16 Earnings Guidance
Wolverine World Wide Inc. (NYSE:WWW) issued an update on its FY16 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.30-1.40 for the period, compared to the Thomson Reuters consensus estimate of $1.36. The company issued revenue guidance of $2.475-2.575 billion, compared to the consensus revenue estimate of $2.54 billion.
Shares of Wolverine World Wide Inc. (NYSE:WWW) opened at 22.04 on Tuesday. Wolverine World Wide Inc. has a 12-month low of $14.74 and a 12-month high of $25.54. The company’s 50-day moving average price is $22.91 and its 200 day moving average price is $21.09. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 22.33 and a beta of 0.76.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Tuesday, October 18th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business earned $603.70 million during the quarter, compared to the consensus estimate of $628.29 million. Wolverine World Wide had a return on equity of 13.60% and a net margin of 3.81%. The company’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. Equities analysts predict that Wolverine World Wide Inc. will post $1.37 earnings per share for the current year.
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A number of equities research analysts have recently commented on WWW shares. B. Riley reiterated a neutral rating and set a $24.00 price target on shares of Wolverine World Wide in a report on Saturday, July 30th. Zacks Investment Research upgraded shares of Wolverine World Wide from a sell rating to a hold rating and set a $27.00 price target on the stock in a report on Thursday, July 28th. Argus reiterated a buy rating on shares of Wolverine World Wide in a report on Wednesday, August 3rd. Susquehanna initiated coverage on shares of Wolverine World Wide in a report on Friday, August 12th. They set a negative rating and a $20.00 price target on the stock. Finally, TheStreet upgraded shares of Wolverine World Wide from a hold rating to a buy rating in a report on Tuesday, June 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $21.30.
Several hedge funds and other institutional investors have recently bought and sold shares of WWW. Arizona State Retirement System raised its position in Wolverine World Wide by 1.2% in the second quarter. Arizona State Retirement System now owns 51,706 shares of the company’s stock valued at $1,051,000 after buying an additional 600 shares during the period. EverPoint Asset Management LLC purchased a new position in Wolverine World Wide during the second quarter valued at approximately $2,545,000. Paloma Partners Management Co raised its position in Wolverine World Wide by 88.5% in the second quarter. Paloma Partners Management Co now owns 97,452 shares of the company’s stock valued at $1,980,000 after buying an additional 45,760 shares during the period. Landscape Capital Management L.L.C. purchased a new position in Wolverine World Wide during the second quarter valued at approximately $684,000. Finally, Guggenheim Capital LLC raised its position in Wolverine World Wide by 3.3% in the second quarter. Guggenheim Capital LLC now owns 52,989 shares of the company’s stock valued at $1,077,000 after buying an additional 1,691 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.
Wolverine World Wide Company Profile
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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