Zacks: Analysts Expect Wolverine World Wide, Inc. (WWW) Will Announce Earnings of $0.49 Per Share

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Equities analysts expect that Wolverine World Wide, Inc. (NYSE:WWW) will post earnings per share of $0.49 for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Wolverine World Wide’s earnings, with estimates ranging from $0.49 to $0.50. Wolverine World Wide reported earnings of $0.41 per share during the same quarter last year, which indicates a positive year over year growth rate of 19.5%. The business is expected to announce its next quarterly earnings results on Wednesday, February 20th.

On average, analysts expect that Wolverine World Wide will report full year earnings of $2.15 per share for the current financial year, with EPS estimates ranging from $2.13 to $2.16. For the next year, analysts anticipate that the business will post earnings of $2.33 per share, with EPS estimates ranging from $2.28 to $2.38. Zacks’ EPS calculations are an average based on a survey of research firms that cover Wolverine World Wide.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, November 7th. The textile maker reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. Wolverine World Wide had a return on equity of 20.26% and a net margin of 4.45%. The company had revenue of $558.60 million during the quarter, compared to analysts’ expectations of $584.25 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The business’s revenue was down 3.9% on a year-over-year basis.

A number of research firms have recently weighed in on WWW. DA Davidson set a $44.00 price target on shares of Wolverine World Wide and gave the company a “buy” rating in a research report on Thursday, August 9th. Robert W. Baird reiterated a “buy” rating and issued a $43.00 price target on shares of Wolverine World Wide in a research report on Friday, August 10th. Telsey Advisory Group lifted their price target on shares of Wolverine World Wide from $35.00 to $39.00 and gave the company a “market perform” rating in a research report on Thursday, August 9th. ValuEngine upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Finally, Pivotal Research reiterated a “hold” rating and issued a $36.00 price target (up from $34.00) on shares of Wolverine World Wide in a research report on Friday, August 3rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Wolverine World Wide has an average rating of “Buy” and an average price target of $39.42.

Shares of NYSE WWW traded down $0.64 during midday trading on Friday, reaching $33.18. The company’s stock had a trading volume of 742,441 shares, compared to its average volume of 602,041. The company has a current ratio of 2.65, a quick ratio of 1.86 and a debt-to-equity ratio of 0.57. Wolverine World Wide has a fifty-two week low of $26.81 and a fifty-two week high of $39.77. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.54 and a beta of 1.11.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Wednesday, January 2nd will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.96%. Wolverine World Wide’s dividend payout ratio is currently 19.51%.

In other Wolverine World Wide news, insider Richard Woodworth sold 19,376 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $38.73, for a total transaction of $750,432.48. Following the completion of the transaction, the insider now directly owns 123,040 shares in the company, valued at $4,765,339.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Jeppesen sold 49,151 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $37.77, for a total transaction of $1,856,433.27. Following the transaction, the insider now owns 156,470 shares of the company’s stock, valued at $5,909,871.90. The disclosure for this sale can be found here. 5.81% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Wolverine World Wide by 4.5% during the third quarter. BlackRock Inc. now owns 13,696,666 shares of the textile maker’s stock worth $534,856,000 after buying an additional 593,107 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Wolverine World Wide by 2.8% during the third quarter. JPMorgan Chase & Co. now owns 2,090,118 shares of the textile maker’s stock worth $81,620,000 after buying an additional 57,188 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Wolverine World Wide by 0.9% during the second quarter. Northern Trust Corp now owns 1,935,125 shares of the textile maker’s stock worth $67,284,000 after buying an additional 17,946 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Wolverine World Wide by 1.7% during the second quarter. Bank of America Corp DE now owns 1,378,945 shares of the textile maker’s stock worth $47,945,000 after buying an additional 22,691 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Wolverine World Wide by 5.0% during the second quarter. Royce & Associates LP now owns 1,245,486 shares of the textile maker’s stock worth $43,306,000 after buying an additional 58,790 shares in the last quarter. Institutional investors and hedge funds own 92.94% of the company’s stock.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.

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