Wall Street analysts predict that Wolverine World Wide, Inc. (NYSE:WWW) will report sales of $561.57 million for the current quarter, according to Zacks. Six analysts have made estimates for Wolverine World Wide's earnings. The lowest sales estimate is $535.80 million and the highest is $580.00 million. Wolverine World Wide reported sales of $349.10 million during the same quarter last year, which indicates a positive year-over-year growth rate of 60.9%. The firm is expected to report its next quarterly earnings results on Wednesday, August 4th.
According to Zacks, analysts expect that Wolverine World Wide will report full-year sales of $2.28 billion for the current fiscal year, with estimates ranging from $2.21 billion to $2.30 billion. For the next year, analysts forecast that the firm will post sales of $2.41 billion, with estimates ranging from $2.37 billion to $2.46 billion. Zacks Investment Research's sales calculations are a mean average based on a survey of research firms that follow Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, May 12th. The textile maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $510.70 million during the quarter, compared to analysts' expectations of $508.32 million. Wolverine World Wide had a negative net margin of 6.01% and a positive return on equity of 12.78%. The firm's quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS.
Several equities research analysts have weighed in on WWW shares. TheStreet upgraded Wolverine World Wide from a "c" rating to a "b-" rating in a report on Wednesday, May 12th. Robert W. Baird upped their price objective on shares of Wolverine World Wide from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday. Argus increased their target price on shares of Wolverine World Wide from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, May 18th. Telsey Advisory Group boosted their price target on shares of Wolverine World Wide from $35.00 to $45.00 and gave the company a "market perform" rating in a report on Thursday, May 6th. Finally, Pivotal Research reiterated a "buy" rating on shares of Wolverine World Wide in a research note on Friday, May 7th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of "Buy" and an average target price of $37.00.
In related news, VP Amy M. Klimek sold 1,463 shares of Wolverine World Wide stock in a transaction that occurred on Tuesday, April 20th. The shares were sold at an average price of $38.54, for a total value of $56,384.02. Following the completion of the sale, the vice president now directly owns 31,458 shares in the company, valued at approximately $1,212,391.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Amy M. Klimek sold 6,000 shares of the business's stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $37.82, for a total transaction of $226,920.00. Following the sale, the vice president now directly owns 32,589 shares in the company, valued at approximately $1,232,515.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,907 shares of company stock valued at $1,425,529. Company insiders own 4.73% of the company's stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WWW. Eaton Vance Management acquired a new stake in Wolverine World Wide during the 1st quarter worth about $26,000. Rockefeller Capital Management L.P. raised its stake in shares of Wolverine World Wide by 1,786.5% in the first quarter. Rockefeller Capital Management L.P. now owns 698 shares of the textile maker's stock worth $26,000 after purchasing an additional 661 shares during the last quarter. Vantage Consulting Group Inc acquired a new stake in shares of Wolverine World Wide during the fourth quarter worth about $34,000. Bessemer Group Inc. purchased a new stake in Wolverine World Wide in the first quarter valued at approximately $44,000. Finally, Veriti Management LLC acquired a new position in Wolverine World Wide in the 4th quarter worth approximately $89,000. 92.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE WWW opened at $37.42 on Friday. Wolverine World Wide has a 52-week low of $20.58 and a 52-week high of $44.74. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -26.73 and a beta of 1.84. The company has a 50 day moving average price of $38.79. The company has a quick ratio of 1.46, a current ratio of 2.10 and a debt-to-equity ratio of 1.14.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Thursday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, June 30th. Wolverine World Wide's payout ratio is presently 43.01%.
Wolverine World Wide Company Profile
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. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.
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