Wolverine World Wide, Inc. (WWW) Expected to Post Quarterly Sales of $551.54 Million
Wall Street analysts forecast that Wolverine World Wide, Inc. (NYSE:WWW) will announce sales of $551.54 million for the current quarter, according to Zacks. Five analysts have made estimates for Wolverine World Wide’s earnings, with the highest sales estimate coming in at $555.10 million and the lowest estimate coming in at $548.50 million. Wolverine World Wide reported sales of $603.70 million during the same quarter last year, which would suggest a negative year over year growth rate of 8.6%. The company is scheduled to announce its next earnings results on Tuesday, October 17th.
According to Zacks, analysts expect that Wolverine World Wide will report full-year sales of $551.54 million for the current financial year, with estimates ranging from $2.34 billion to $2.37 billion. For the next year, analysts expect that the firm will report sales of $2.34 billion per share, with estimates ranging from $2.27 billion to $2.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, August 9th. The textile maker reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.14. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The firm had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $573.78 million. During the same period last year, the company posted $0.26 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year.
A number of analysts have recently issued reports on the stock. ValuEngine lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Piper Jaffray Companies set a $25.00 target price on shares of Wolverine World Wide and gave the company a “hold” rating in a research note on Wednesday, August 9th. Zacks Investment Research raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Saturday, August 12th. Finally, Telsey Advisory Group boosted their target price on shares of Wolverine World Wide from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Wolverine World Wide has an average rating of “Hold” and a consensus target price of $23.86.
Wolverine World Wide (WWW) traded down 1.34% during midday trading on Wednesday, hitting $25.81. 774,830 shares of the stock traded hands. Wolverine World Wide has a 52-week low of $20.58 and a 52-week high of $28.64. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 30.33 and a beta of 0.94. The firm’s 50-day moving average is $27.35 and its 200-day moving average is $25.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, September 29th. Wolverine World Wide’s dividend payout ratio (DPR) is presently 28.24%.
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A number of hedge funds have recently added to or reduced their stakes in the company. Airain ltd acquired a new stake in Wolverine World Wide during the first quarter worth $448,000. Dimensional Fund Advisors LP raised its stake in Wolverine World Wide by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,687,149 shares of the textile maker’s stock worth $117,039,000 after buying an additional 226,965 shares during the period. FMR LLC raised its stake in Wolverine World Wide by 6.8% in the first quarter. FMR LLC now owns 1,937,005 shares of the textile maker’s stock worth $48,367,000 after buying an additional 123,641 shares during the period. KCG Holdings Inc. raised its stake in Wolverine World Wide by 342.0% in the first quarter. KCG Holdings Inc. now owns 77,112 shares of the textile maker’s stock worth $1,925,000 after buying an additional 59,666 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Wolverine World Wide by 25.3% in the first quarter. Wells Fargo & Company MN now owns 114,690 shares of the textile maker’s stock worth $2,864,000 after buying an additional 23,149 shares during the period. 91.00% of the stock is owned by 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. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, Chaco footwear, and Sebago footwear and apparel; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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