Wolverine World Wide Inc. to Post Q3 2016 Earnings of $0.49 Per Share, B. Riley Forecasts (WWW)
Wolverine World Wide Inc. (NYSE:WWW) – Investment analysts at B. Riley increased their Q3 2016 earnings per share estimates for Wolverine World Wide in a research report issued to clients and investors on Tuesday. B. Riley analyst M. Kummetz now forecasts that the firm will earn $0.49 per share for the quarter, up from their prior forecast of $0.48. B. Riley has a “Neutral” rating and a $26.00 price objective on the stock. B. Riley also issued estimates for Wolverine World Wide’s Q4 2016 earnings at $0.32 EPS, FY2016 earnings at $1.35 EPS, FY2017 earnings at $1.65 EPS and FY2018 earnings at $1.85 EPS.
Other research analysts also recently issued reports about the stock. Argus reaffirmed a “buy” rating on shares of Wolverine World Wide in a research report on Wednesday, August 3rd. TheStreet raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Tuesday, June 21st. Zacks Investment Research raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Saturday, August 6th. Telsey Advisory Group boosted their price objective on shares of Wolverine World Wide from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Finally, Susquehanna started coverage on shares of Wolverine World Wide in a research report on Friday, August 12th. They issued a “negative” rating and a $20.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.30.
Wolverine World Wide (NYSE:WWW) traded up 0.09% during midday trading on Wednesday, hitting $21.28. 799,713 shares of the stock traded hands. Wolverine World Wide has a 1-year low of $14.74 and a 1-year high of $25.54. The company has a 50-day moving average of $22.81 and a 200-day moving average of $21.12. The stock has a market cap of $2.12 billion, a PE ratio of 21.56 and a beta of 0.76.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/wolverine-world-wide-inc-to-post-q3-2016-earnings-of-0-49-per-share-b-riley-forecasts-www.html
Wolverine World Wide (NYSE:WWW) last released its earnings results on Tuesday, October 18th. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The company earned $603.70 million during the quarter, compared to the consensus estimate of $631.09 million. Wolverine World Wide had a net margin of 3.81% and a return on equity of 13.60%. The company’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 EPS.
Institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. bought a new position in Wolverine World Wide during the first quarter valued at approximately $1,300,000. Renaissance Technologies LLC boosted its position in Wolverine World Wide by 23.5% in the first quarter. Renaissance Technologies LLC now owns 1,049,300 shares of the company’s stock valued at $19,328,000 after buying an additional 199,380 shares during the last quarter. Adirondack Research & Management Inc. bought a new position in Wolverine World Wide during the first quarter valued at approximately $1,654,000. Goldman Sachs Group Inc. boosted its position in Wolverine World Wide by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 570,422 shares of the company’s stock valued at $10,508,000 after buying an additional 115,781 shares during the last quarter. Finally, AXA boosted its position in Wolverine World Wide by 23.0% in the first quarter. AXA now owns 371,010 shares of the company’s stock valued at $6,834,000 after buying an additional 69,430 shares during the last quarter. 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.
Receive News & Ratings for Wolverine World Wide Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide Inc. and related companies with MarketBeat.com's FREE daily email newsletter.