$551.54 Million in Sales Expected for Wolverine World Wide, Inc. (WWW) This Quarter
Analysts expect Wolverine World Wide, Inc. (NYSE:WWW) to report $551.54 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Wolverine World Wide’s earnings, with the lowest sales estimate coming in at $548.50 million and the highest estimate coming in at $555.10 million. Wolverine World Wide reported sales of $603.70 million during the same quarter last year, which indicates a negative year over year growth rate of 8.6%. The firm is expected to issue its next earnings results 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 fiscal year, with estimates ranging from $2.34 billion to $2.37 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.32 billion per share, with estimates ranging from $2.27 billion to $2.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.14. The firm had revenue of $598.80 million during the quarter, compared to analyst estimates of $573.78 million. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS.
A number of brokerages have commented on WWW. Piper Jaffray Companies set a $25.00 price objective on shares of Wolverine World Wide and gave the stock a “hold” rating in a research note on Wednesday, August 9th. ValuEngine raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. BidaskClub cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Zacks Investment Research raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Saturday, August 12th. Finally, Pivotal Research began coverage on shares of Wolverine World Wide in a research note on Thursday, October 5th. They issued a “hold” rating and a $32.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Wolverine World Wide presently has a consensus rating of “Hold” and a consensus price target of $25.06.
Shares of Wolverine World Wide (NYSE:WWW) traded down 1.08% during midday trading on Wednesday, hitting $28.42. 183,032 shares of the stock were exchanged. Wolverine World Wide has a 52-week low of $20.58 and a 52-week high of $29.62. The firm has a market cap of $2.75 billion, a PE ratio of 33.44 and a beta of 0.98. The firm’s 50-day moving average is $27.39 and its 200 day moving average is $26.32.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 2nd will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, September 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.84%. Wolverine World Wide’s dividend payout ratio is presently 28.24%.
Several hedge funds have recently added to or reduced their stakes in WWW. Bank of Montreal Can boosted its stake in shares of Wolverine World Wide by 1.3% during the 2nd quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock worth $138,000 after purchasing an additional 64 shares during the period. Jane Street Group LLC purchased a new position in shares of Wolverine World Wide during the 1st quarter worth about $200,000. Everence Capital Management Inc. purchased a new position in shares of Wolverine World Wide during the 2nd quarter worth about $202,000. Papp L Roy & Associates purchased a new position in shares of Wolverine World Wide during the 2nd quarter worth about $204,000. Finally, Ronna Sue Cohen purchased a new position in shares of Wolverine World Wide during the 1st quarter worth about $208,000. 90.84% of the stock is owned by hedge funds and other institutional investors.
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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. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; 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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