Wolverine World Wide Inc. Expected to Post FY2017 Earnings of $1.54 Per Share (WWW)
Wolverine World Wide Inc. (NYSE:WWW) – Research analysts at DA Davidson cut their FY2017 EPS estimates for Wolverine World Wide in a note issued to investors on Wednesday. DA Davidson analyst A. Burns now forecasts that the firm will post earnings per share of $1.54 for the year, down from their previous forecast of $1.55.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Saturday. B. Riley reaffirmed a “neutral” rating and set a $26.00 target price on shares of Wolverine World Wide in a research note on Friday. Susquehanna began coverage on shares of Wolverine World Wide in a research note on Friday, August 12th. They set a “negative” rating and a $20.00 target price on the stock. Argus reaffirmed a “buy” rating on shares of Wolverine World Wide in a research note on Wednesday, August 3rd. Finally, Telsey Advisory Group upped their target price on shares of Wolverine World Wide from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.30.
Shares of Wolverine World Wide (NYSE:WWW) traded down 2.77% during midday trading on Monday, reaching $21.43. The company’s stock had a trading volume of 550,852 shares. The stock has a 50-day moving average of $22.91 and a 200 day moving average of $21.09. Wolverine World Wide has a 12-month low of $14.74 and a 12-month high of $25.54. The firm has a market capitalization of $2.13 billion, a P/E ratio of 21.71 and a beta of 0.76.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. Wolverine World Wide had a return on equity of 13.60% and a net margin of 3.81%. The business earned $603.70 million during the quarter. During the same quarter in the previous year, the company posted $0.48 EPS. The company’s quarterly revenue was down 11.1% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aperio Group LLC increased its position in Wolverine World Wide by 33.7% in the first quarter. Aperio Group LLC now owns 17,121 shares of the company’s stock worth $315,000 after buying an additional 4,319 shares during the period. Pacad Investment Ltd. increased its position in Wolverine World Wide by 40.8% in the first quarter. Pacad Investment Ltd. now owns 16,900 shares of the company’s stock worth $311,000 after buying an additional 4,900 shares during the period. BlackRock Inc. increased its position in Wolverine World Wide by 126.1% in the first quarter. BlackRock Inc. now owns 6,967 shares of the company’s stock worth $128,000 after buying an additional 3,885 shares during the period. BlackRock Group LTD increased its position in Wolverine World Wide by 9.9% in the first quarter. BlackRock Group LTD now owns 125,662 shares of the company’s stock worth $2,315,000 after buying an additional 11,370 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in Wolverine World Wide by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,505,128 shares of the company’s stock worth $46,144,000 after buying an additional 21,251 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.
About Wolverine World Wide
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. The Company’s products are marketed around the world in approximately 200 countries and territories through Company-owned wholesale and consumer-direct operations, and third-party licensees and distributors.
Receive News & Stock Ratings for Wolverine World Wide Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide Inc. and related stocks with our FREE daily email newsletter.