Wall Street analysts expect that Wolverine World Wide, Inc. (NYSE:WWW) will report sales of $570.17 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Wolverine World Wide’s earnings. The highest sales estimate is $572.80 million and the lowest is $568.60 million. Wolverine World Wide posted sales of $598.80 million during the same quarter last year, which would indicate a negative year over year growth rate of 4.8%. The company is scheduled to announce its next earnings results on Wednesday, August 8th.
According to Zacks, analysts expect that Wolverine World Wide will report full year sales of $2.29 billion for the current year, with estimates ranging from $2.28 billion to $2.31 billion. For the next year, analysts forecast that the firm will post sales of $2.37 billion per share, with estimates ranging from $2.34 billion to $2.40 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, May 9th. The textile maker reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.13. Wolverine World Wide had a net margin of 1.28% and a return on equity of 17.54%. The company had revenue of $534.10 million for the quarter, compared to analyst estimates of $531.10 million. During the same period in the prior year, the firm posted $0.37 EPS. The company’s quarterly revenue was down 9.7% on a year-over-year basis.
Shares of Wolverine World Wide stock traded down $0.42 during trading on Friday, reaching $34.10. 458,457 shares of the company traded hands, compared to its average volume of 640,065. The company has a quick ratio of 2.13, a current ratio of 3.18 and a debt-to-equity ratio of 0.66. Wolverine World Wide has a 1-year low of $25.25 and a 1-year high of $36.90. The company has a market capitalization of $3.27 billion, a PE ratio of 20.79, a PEG ratio of 1.66 and a beta of 1.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Monday, July 2nd will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, June 29th. This represents a $0.32 annualized dividend and a yield of 0.94%. Wolverine World Wide’s payout ratio is 19.51%.
In other news, insider Michael Jeppesen sold 47,640 shares of the company’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $31.50, for a total value of $1,500,660.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael D. Stornant sold 38,010 shares of the company’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $32.38, for a total transaction of $1,230,763.80. The disclosure for this sale can be found here. Corporate insiders own 5.81% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cape Cod Five Cents Savings Bank bought a new stake in shares of Wolverine World Wide in the 2nd quarter worth $220,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Wolverine World Wide in the 1st quarter worth $298,000. Principal Financial Group Inc. grew its stake in shares of Wolverine World Wide by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 745,972 shares of the textile maker’s stock worth $21,559,000 after acquiring an additional 13,073 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Wolverine World Wide by 71.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 16,732 shares of the textile maker’s stock worth $484,000 after acquiring an additional 7,000 shares in the last quarter. Finally, Foundry Partners LLC bought a new stake in shares of Wolverine World Wide in the 1st quarter worth $4,129,000. Hedge funds and other institutional investors own 95.26% of the company’s stock.
Wolverine World Wide Company Profile
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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