$592.72 Million in Sales Expected for Wolverine World Wide, Inc. (WWW) This Quarter

Equities analysts expect Wolverine World Wide, Inc. (NYSE:WWW) to post $592.72 million in sales for the current quarter, Zacks reports. Five analysts have issued 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 posted sales of $729.60 million during the same quarter last year, which would indicate a negative year over year growth rate of 18.8%. The company is expected to announce its next quarterly earnings results 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 fiscal year, analysts anticipate that the firm will post sales of $2.33 billion per share, with estimates ranging from $2.28 billion to $2.42 billion. Zacks’ 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 results on Wednesday, November 8th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $552.36 million. During the same quarter in the previous year, the business earned $0.49 EPS. Wolverine World Wide’s revenue was down 3.7% compared to the same quarter last year.

WWW has been the topic of a number of analyst reports. Pivotal Research initiated coverage on Wolverine World Wide in a research report on Thursday, October 5th. They issued a “hold” rating and a $32.00 price objective on the stock. KeyCorp reaffirmed a “hold” rating on shares of Wolverine World Wide in a research report on Wednesday, October 11th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $25.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, November 1st. Telsey Advisory Group upped their price objective on Wolverine World Wide from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Thursday, November 9th. Finally, Buckingham Research upped their price objective on Wolverine World Wide from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.25.

In other Wolverine World Wide news, Director Joseph R. Gromek sold 18,928 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $29.14, for a total value of $551,561.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Jeppesen sold 11,807 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total value of $330,241.79. The disclosure for this sale can be found here. Corporate insiders own 5.65% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Community Financial Services Group LLC bought a new position in shares of Wolverine World Wide during the 4th quarter valued at about $212,000. Miles Capital Inc. bought a new position in shares of Wolverine World Wide during the 2nd quarter valued at about $222,000. Advisory Services Network LLC boosted its holdings in shares of 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 during the last quarter. Bayesian Capital Management LP bought a new position in shares of Wolverine World Wide during the 2nd quarter valued at about $246,000. Finally, Shelton Capital Management bought a new position in shares of Wolverine World Wide during the 2nd quarter valued at about $265,000. 92.48% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide (NYSE:WWW) opened at $33.58 on Friday. Wolverine World Wide has a twelve month low of $20.94 and a twelve month high of $33.77. The company has a current ratio of 3.09, a quick ratio of 2.06 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $3,147.90, a P/E ratio of 55.97, a price-to-earnings-growth ratio of 1.38 and a beta of 0.95.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Tuesday, January 2nd will be paid a $0.06 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.71%. Wolverine World Wide’s dividend payout ratio (DPR) is 40.00%.

WARNING: This news story was first reported by American Banking News and is the property of of American Banking News. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/28/592-72-million-in-sales-expected-for-wolverine-world-wide-inc-www-this-quarter.html.

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.

Get a free copy of the Zacks research report on Wolverine World Wide (WWW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Wolverine World Wide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply