Zacks: Analysts Anticipate Wolverine World Wide, Inc. (WWW) Will Announce Quarterly Sales of $551.54 Million
Brokerages expect Wolverine World Wide, Inc. (NYSE:WWW) to post $551.54 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Wolverine World Wide’s earnings. The highest sales estimate is $555.10 million and the lowest is $548.50 million. Wolverine World Wide reported sales of $603.70 million during the same quarter last year, which would suggest a negative year over year growth rate of 8.6%. The business is expected to announce its next quarterly earnings report on Tuesday, October 17th.
According to Zacks, analysts expect that Wolverine World Wide will report full-year sales of $551.54 million for the current financial year, with estimates ranging from $2.34 billion to $2.37 billion. For the next year, analysts expect that the company will post sales of $2.34 billion per share, with estimates ranging from $2.27 billion to $2.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.14. Wolverine World Wide had a return on equity of 15.81% and a net margin of 3.32%. The firm had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $573.78 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis.
WWW has been the subject of a number of recent analyst reports. Zacks Investment Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, April 26th. B. Riley reissued a “neutral” rating and issued a $26.00 price objective on shares of Wolverine World Wide in a research report on Monday, May 8th. Telsey Advisory Group raised their price objective on Wolverine World Wide from $26.00 to $29.00 and gave the stock a “market perform” rating in a research report on Thursday, May 11th. Piper Jaffray Companies reissued a “hold” rating and issued a $24.00 price objective on shares of Wolverine World Wide in a research report on Thursday, May 11th. Finally, Wedbush raised their price objective on Wolverine World Wide from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Wolverine World Wide has a consensus rating of “Hold” and a consensus target price of $23.86.
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A number of institutional investors have recently modified their holdings of the company. Glen Harbor Capital Management LLC raised its position in shares of Wolverine World Wide by 16.7% in the first quarter. Glen Harbor Capital Management LLC now owns 4,158 shares of the textile maker’s stock worth $104,000 after buying an additional 594 shares during the period. Bank of Montreal Can raised its position in shares of Wolverine World Wide by 15.1% in the first quarter. Bank of Montreal Can now owns 4,840 shares of the textile maker’s stock worth $121,000 after buying an additional 635 shares during the period. Elkfork Partners LLC raised its position in shares of Wolverine World Wide by 16.7% in the first quarter. Elkfork Partners LLC now owns 5,292 shares of the textile maker’s stock worth $132,000 after buying an additional 756 shares during the period. Meadow Creek Investment Management LLC raised its position in shares of Wolverine World Wide by 16.7% in the first quarter. Meadow Creek Investment Management LLC now owns 6,426 shares of the textile maker’s stock worth $160,000 after buying an additional 918 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in shares of Wolverine World Wide during the second quarter worth about $202,000. Institutional investors own 91.00% of the company’s stock.
Wolverine World Wide (NYSE:WWW) opened at 26.18 on Wednesday. Wolverine World Wide has a 1-year low of $20.58 and a 1-year high of $28.64. The stock has a 50 day moving average price of $27.42 and a 200 day moving average price of $25.50. The stock has a market cap of $2.53 billion, a PE ratio of 30.76 and a beta of 0.94.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 2nd will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.24 dividend on an annualized basis and a yield of 0.92%. Wolverine World Wide’s dividend payout ratio (DPR) is 28.24%.
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. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, Chaco footwear, and Sebago footwear and apparel; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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