Wolverine World Wide, Inc. (NYSE:WWW) to Post FY2024 Earnings of $0.80 Per Share, Seaport Res Ptn Forecasts

Wolverine World Wide, Inc. (NYSE:WWW - Free Report) - Stock analysts at Seaport Res Ptn raised their FY2024 earnings estimates for shares of Wolverine World Wide in a report issued on Monday, May 6th. Seaport Res Ptn analyst M. Kummetz now anticipates that the textile maker will post earnings of $0.80 per share for the year, up from their previous forecast of $0.75. Seaport Res Ptn currently has a "Buy" rating on the stock. The consensus estimate for Wolverine World Wide's current full-year earnings is $0.77 per share. Seaport Res Ptn also issued estimates for Wolverine World Wide's Q4 2024 earnings at $0.14 EPS, FY2025 earnings at $1.33 EPS and FY2026 earnings at $1.77 EPS.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The firm had revenue of $526.70 million for the quarter, compared to analyst estimates of $520.12 million. During the same period last year, the company posted ($0.15) earnings per share. The firm's quarterly revenue was down 20.8% compared to the same quarter last year.

Several other research firms also recently issued reports on WWW. Robert W. Baird lifted their price target on shares of Wolverine World Wide from $9.00 to $13.00 and gave the company a "neutral" rating in a research report on Thursday. UBS Group raised their price objective on Wolverine World Wide from $11.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday. Williams Trading upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and raised their price objective for the company from $11.00 to $16.00 in a research note on Thursday. Finally, Telsey Advisory Group restated a "market perform" rating and set a $10.00 price objective on shares of Wolverine World Wide in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $11.67.

Wolverine World Wide Stock Up 5.0 %

NYSE WWW traded up $0.63 during mid-day trading on Thursday, hitting $13.38. The company's stock had a trading volume of 2,130,786 shares, compared to its average volume of 904,121. The company's 50 day simple moving average is $10.32 and its 200 day simple moving average is $9.30. Wolverine World Wide has a twelve month low of $7.21 and a twelve month high of $17.85. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -26.23 and a beta of 1.73.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp grew its holdings in Wolverine World Wide by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker's stock valued at $775,000 after buying an additional 946 shares in the last quarter. ProShare Advisors LLC grew its holdings in Wolverine World Wide by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker's stock valued at $176,000 after buying an additional 1,090 shares in the last quarter. GAMMA Investing LLC grew its holdings in Wolverine World Wide by 42.5% during the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker's stock valued at $50,000 after buying an additional 1,343 shares in the last quarter. Swiss National Bank grew its holdings in shares of Wolverine World Wide by 1.0% during the third quarter. Swiss National Bank now owns 174,600 shares of the textile maker's stock worth $1,407,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Wolverine World Wide by 15.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,873 shares of the textile maker's stock worth $159,000 after purchasing an additional 2,390 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Monday, July 1st. Wolverine World Wide's dividend payout ratio is currently -78.43%.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.