Wolverine World Wide, Inc. (WWW) Expected to Announce Quarterly Sales of $592.72 Million

Wall Street brokerages expect Wolverine World Wide, Inc. (NYSE:WWW) to post $592.72 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Wolverine World Wide’s earnings, with the lowest sales estimate coming in at $588.00 million and the highest estimate coming in at $598.20 million. Wolverine World Wide reported sales of $729.60 million in the same quarter last year, which indicates a negative year-over-year growth rate of 18.8%. The business is scheduled to issue its next earnings report on Wednesday, February 28th.

According to Zacks, analysts expect that Wolverine World Wide will report full year sales of $592.72 million for the current year, with estimates ranging from $2.36 billion to $2.37 billion. For the next year, analysts forecast that the company will report sales of $2.33 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 research firms that that provide coverage for Wolverine World Wide.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, November 8th. The textile maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. Wolverine World Wide had a return on equity of 15.25% and a net margin of 2.35%. The company had revenue of $581.30 million for the quarter, compared to analyst estimates of $552.36 million. During the same period in the prior year, the firm posted $0.49 EPS. The business’s revenue was down 3.7% compared to the same quarter last year.

WWW has been the topic of several research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $32.00 target price on shares of Wolverine World Wide in a research report on Sunday, September 17th. Morgan Stanley increased their price objective on Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a report on Monday, September 25th. Pivotal Research initiated coverage on Wolverine World Wide in a report on Thursday, October 5th. They set a “hold” rating and a $32.00 price objective on the stock. KeyCorp reissued a “hold” rating on shares of Wolverine World Wide in a report on Wednesday, October 11th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $25.00 price objective on shares of Wolverine World Wide in a report on Wednesday, November 1st. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Wolverine World Wide presently has a consensus rating of “Hold” and a consensus target price of $27.25.

In other news, insider Michael Jeppesen sold 11,807 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total value of $330,241.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph R. Gromek sold 18,928 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $29.14, for a total value of $551,561.92. The disclosure for this sale can be found here. 5.65% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Riverhead Capital Management LLC raised its holdings in shares of Wolverine World Wide by 62.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,625 shares of the textile maker’s stock worth $214,000 after buying an additional 2,925 shares in the last quarter. Miles Capital Inc. acquired a new stake in Wolverine World Wide during the 2nd quarter valued at $222,000. Advisory Services Network LLC increased its holdings in Wolverine World Wide by 5.3% during the 2nd quarter. Advisory Services Network LLC now owns 8,336 shares of the textile maker’s stock valued at $234,000 after purchasing an additional 421 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Wolverine World Wide during the 2nd quarter valued at $246,000. Finally, Shelton Capital Management acquired a new stake in Wolverine World Wide during the 2nd quarter valued at $265,000. 92.48% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide (WWW) opened at $31.81 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.09 and a quick ratio of 2.06. Wolverine World Wide has a 52-week low of $20.94 and a 52-week high of $32.70. The firm has a market capitalization of $3,040.00, a PE ratio of 53.92, a price-to-earnings-growth ratio of 1.35 and a beta of 0.95.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd will be given a $0.06 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.75%. Wolverine World Wide’s dividend payout ratio is currently 40.68%.

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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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Earnings History and Estimates for Wolverine World Wide (NYSE:WWW)

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