$551.54 Million in Sales Expected for Wolverine World Wide, Inc. (WWW) This Quarter
Equities analysts expect Wolverine World Wide, Inc. (NYSE:WWW) to report sales of $551.54 million for the current quarter, according to Zacks. Five analysts have made estimates for Wolverine World Wide’s earnings, with the highest sales estimate coming in at $555.10 million and the lowest estimate coming in at $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 firm is expected to issue its next earnings report on Tuesday, October 31st.
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 year, analysts expect that the firm will post sales of $2.32 billion per share, with estimates ranging from $2.27 billion to $2.37 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $598.80 million during the quarter, compared to analyst estimates of $573.78 million. During the same quarter last year, the company posted $0.26 EPS. Wolverine World Wide’s revenue for the quarter was up 2.6% on a year-over-year basis.
A number of research analysts have issued reports on the company. KeyCorp reissued a “hold” rating on shares of Wolverine World Wide in a research note on Wednesday, October 11th. Pivotal Research assumed coverage on Wolverine World Wide in a research note on Thursday, October 5th. They issued a “hold” rating and a $32.00 target price for the company. Morgan Stanley boosted their target price on Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a research note on Monday, September 25th. Robert W. Baird reissued a “buy” rating and issued a $32.00 target price on shares of Wolverine World Wide in a research note on Sunday, September 17th. Finally, ValuEngine cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $25.06.
Wolverine World Wide (NYSE WWW) traded down 3.03% during trading on Monday, hitting $28.46. The company had a trading volume of 231,950 shares. The firm has a 50-day moving average of $28.14 and a 200 day moving average of $26.65. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 33.44 and a beta of 0.98. Wolverine World Wide has a 12-month low of $20.79 and a 12-month high of $29.62.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 2nd will be issued a $0.06 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.82%. Wolverine World Wide’s dividend payout ratio (DPR) is 28.24%.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ronna Sue Cohen raised its holdings in Wolverine World Wide by 0.3% during the second quarter. Ronna Sue Cohen now owns 8,362 shares of the textile maker’s stock worth $234,000 after acquiring an additional 21 shares in the last quarter. Bank of Montreal Can raised its holdings in Wolverine World Wide by 1.3% during the second quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock worth $138,000 after acquiring an additional 64 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Wolverine World Wide by 0.3% during the second quarter. Louisiana State Employees Retirement System now owns 39,500 shares of the textile maker’s stock worth $1,106,000 after acquiring an additional 100 shares in the last quarter. Amalgamated Bank raised its holdings in Wolverine World Wide by 1.9% during the second quarter. Amalgamated Bank now owns 13,330 shares of the textile maker’s stock worth $373,000 after acquiring an additional 246 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its holdings in Wolverine World Wide by 1.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 22,840 shares of the textile maker’s stock worth $640,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 90.95% 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. 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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