Wolverine World Wide, Inc. (NYSE:WWW) Expected to Announce Earnings of $0.63 Per Share

Analysts predict that Wolverine World Wide, Inc. (NYSE:WWW) will announce $0.63 earnings per share (EPS) for the current quarter, Zacks reports. Six analysts have made estimates for Wolverine World Wide’s earnings. Wolverine World Wide posted earnings per share of $0.62 in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.6%. The firm is expected to announce its next earnings report on Wednesday, November 6th.

On average, analysts expect that Wolverine World Wide will report full year earnings of $2.28 per share for the current fiscal year, with EPS estimates ranging from $2.28 to $2.29. For the next financial year, analysts forecast that the business will report earnings of $2.51 per share, with EPS estimates ranging from $2.46 to $2.60. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Wolverine World Wide.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. Wolverine World Wide had a net margin of 8.02% and a return on equity of 21.21%. The firm had revenue of $568.60 million for the quarter, compared to the consensus estimate of $575.24 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The business’s revenue was up .3% on a year-over-year basis.

WWW has been the subject of several research reports. Pivotal Research restated a “hold” rating and set a $30.00 price target (down previously from $34.00) on shares of Wolverine World Wide in a research report on Friday, August 2nd. Stifel Nicolaus set a $36.00 price target on shares of Wolverine World Wide and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $34.00 target price (down from $38.00) on shares of Wolverine World Wide in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Wolverine World Wide presently has a consensus rating of “Hold” and a consensus price target of $36.80.

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its position in shares of Wolverine World Wide by 719.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,639 shares of the textile maker’s stock worth $45,000 after buying an additional 1,439 shares in the last quarter. Papp L Roy & Associates purchased a new stake in Wolverine World Wide in the first quarter valued at about $218,000. Financial Counselors Inc. purchased a new stake in Wolverine World Wide in the first quarter valued at about $239,000. M&T Bank Corp raised its stake in Wolverine World Wide by 14.9% in the second quarter. M&T Bank Corp now owns 8,924 shares of the textile maker’s stock valued at $245,000 after buying an additional 1,160 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Wolverine World Wide by 17.3% in the first quarter. Bank of Montreal Can now owns 9,039 shares of the textile maker’s stock valued at $323,000 after buying an additional 1,335 shares during the last quarter. 92.68% of the stock is currently owned by institutional investors.

Shares of NYSE WWW traded down $0.02 during trading on Friday, hitting $28.51. The stock had a trading volume of 2,871 shares, compared to its average volume of 846,489. Wolverine World Wide has a 12 month low of $23.05 and a 12 month high of $39.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.25 and a quick ratio of 0.70. The company has a market capitalization of $2.47 billion, a PE ratio of 13.15, a PEG ratio of 0.85 and a beta of 1.07. The firm has a fifty day moving average of $26.19 and a two-hundred day moving average of $30.25.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.40%. Wolverine World Wide’s dividend payout ratio (DPR) is 18.43%.

Wolverine World Wide announced that its board has authorized a stock buyback plan on Wednesday, September 11th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the textile maker to reacquire up to 17.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Wolverine World Wide Company Profile

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

Further Reading: What does a market perform rating mean?

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Earnings History and Estimates for Wolverine World Wide (NYSE:WWW)

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