Wolverine World Wide, Inc. (WWW) Expected to Post Quarterly Sales of $592.72 Million
Wall Street brokerages forecast that Wolverine World Wide, Inc. (NYSE:WWW) will announce sales of $592.72 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Wolverine World Wide’s earnings. The highest sales estimate is $598.20 million and the lowest is $588.00 million. Wolverine World Wide reported sales of $729.60 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 18.8%. The business is expected to issue its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that Wolverine World Wide will report full year sales of $592.72 million for the current fiscal year, with estimates ranging from $2.35 billion to $2.37 billion. For the next year, analysts expect that the company will report sales of $2.32 billion per share, with estimates ranging from $2.28 billion to $2.42 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, November 8th. The textile maker reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.06. The firm had revenue of $581.30 million during the quarter, compared to analyst estimates of $552.36 million. Wolverine World Wide had a return on equity of 15.25% and a net margin of 2.35%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share.
A number of analysts recently commented on WWW shares. Morgan Stanley lifted their price objective on Wolverine World Wide from $22.50 to $24.50 and gave the stock an “equal weight” rating in a research report on Monday, September 25th. ValuEngine lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Pivotal Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $32.00 to $33.00 in a research report on Wednesday, November 8th. Piper Jaffray Companies restated a “hold” rating and set a $25.00 target price on shares of Wolverine World Wide in a report on Wednesday, November 1st. Finally, KeyCorp restated a “hold” rating on shares of Wolverine World Wide in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.65.
Shares of Wolverine World Wide (NYSE WWW) traded up $0.27 during mid-day trading on Friday, reaching $28.26. The company had a trading volume of 745,282 shares, compared to its average volume of 924,658. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.06 and a current ratio of 3.09. The firm has a market capitalization of $2,703.95, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94. Wolverine World Wide has a 1 year low of $20.94 and a 1 year high of $29.62.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 29th. Wolverine World Wide’s payout ratio is 40.00%.
In other Wolverine World Wide news, insider Michael Jeppesen sold 11,807 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total transaction of $330,241.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.65% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the business. California Public Employees Retirement System increased its position in shares of Wolverine World Wide by 5.0% during the 3rd quarter. California Public Employees Retirement System now owns 201,270 shares of the textile maker’s stock worth $5,807,000 after purchasing an additional 9,570 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Wolverine World Wide by 8.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 24,832 shares of the textile maker’s stock worth $716,000 after purchasing an additional 1,873 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Wolverine World Wide during the 3rd quarter worth approximately $408,000. PEAK6 Investments L.P. increased its position in shares of Wolverine World Wide by 396.4% during the 3rd quarter. PEAK6 Investments L.P. now owns 13,189 shares of the textile maker’s stock worth $381,000 after purchasing an additional 10,532 shares during the last quarter. Finally, Invictus RG increased its position in shares of Wolverine World Wide by 82.8% during the 3rd quarter. Invictus RG now owns 21,601 shares of the textile maker’s stock worth $623,000 after purchasing an additional 9,782 shares during the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.
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, 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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