Wolverine World Wide (NYSE:WWW) Updates FY 2024 Earnings Guidance

Wolverine World Wide (NYSE:WWW - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.650-0.850 for the period, compared to the consensus estimate of 0.750. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Wolverine World Wide also updated its FY24 guidance to $0.65 to $0.85 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Seaport Res Ptn upgraded shares of Wolverine World Wide from a neutral rating to a buy rating in a report on Monday. Telsey Advisory Group reaffirmed a market perform rating and set a $10.00 price target on shares of Wolverine World Wide in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Wolverine World Wide currently has an average rating of Hold and an average price target of $10.63.

Wolverine World Wide Stock Up 11.5 %

WWW traded up $1.31 during midday trading on Wednesday, reaching $12.73. 2,206,673 shares of the company were exchanged, compared to its average volume of 890,351. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -24.96 and a beta of 1.73. Wolverine World Wide has a one year low of $7.21 and a one year high of $17.85. The company's fifty day moving average price is $10.26 and its 200 day moving average price is $9.27. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.75 and a current ratio of 1.18.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $526.70 million for the quarter, compared to the consensus estimate of $520.12 million. During the same quarter last year, the company posted ($0.15) EPS. The company's quarterly revenue was down 20.8% compared to the same quarter last year. As a group, analysts expect that Wolverine World Wide will post 0.77 EPS for the current year.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.14%. The ex-dividend date is Monday, July 1st. Wolverine World Wide's dividend payout ratio (DPR) is presently -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.