Brokerages expect Wolverine World Wide, Inc. (NYSE:WWW) to post sales of $577.50 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Wolverine World Wide’s earnings, with the lowest sales estimate coming in at $574.20 million and the highest estimate coming in at $583.20 million. Wolverine World Wide posted sales of $566.90 million in the same quarter last year, which suggests a positive year over year growth rate of 1.9%. The firm is scheduled to announce its next earnings results on Wednesday, August 14th.
On average, analysts expect that Wolverine World Wide will report full year sales of $2.30 billion for the current financial year, with estimates ranging from $2.29 billion to $2.31 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.40 billion, with estimates ranging from $2.37 billion to $2.43 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Thursday, May 9th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The firm had revenue of $523.40 million for the quarter, compared to analysts’ expectations of $535.82 million. Wolverine World Wide had a return on equity of 20.97% and a net margin of 8.70%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS.
In related news, Director Joseph R. Gromek sold 9,870 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $36.02, for a total value of $355,517.40. Following the sale, the director now owns 49,310 shares in the company, valued at approximately $1,776,146.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Jeppesen sold 38,441 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $35.72, for a total value of $1,373,112.52. Following the completion of the sale, the insider now owns 67,177 shares in the company, valued at approximately $2,399,562.44. The disclosure for this sale can be found here. Insiders have sold a total of 72,349 shares of company stock worth $2,589,072 in the last quarter. 4.93% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co lifted its stake in Wolverine World Wide by 5.7% in the 4th quarter. Diversified Trust Co now owns 7,364 shares of the textile maker’s stock valued at $235,000 after buying an additional 400 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its stake in Wolverine World Wide by 2.2% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 23,010 shares of the textile maker’s stock valued at $822,000 after buying an additional 485 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Wolverine World Wide by 1.7% in the 4th quarter. State of Alaska Department of Revenue now owns 31,772 shares of the textile maker’s stock valued at $1,013,000 after buying an additional 530 shares in the last quarter. Alpha Windward LLC lifted its stake in Wolverine World Wide by 3.8% in the 4th quarter. Alpha Windward LLC now owns 14,580 shares of the textile maker’s stock valued at $465,000 after buying an additional 540 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Wolverine World Wide by 9.4% in the 4th quarter. Bank of Montreal Can now owns 7,704 shares of the textile maker’s stock valued at $245,000 after buying an additional 661 shares in the last quarter. Institutional investors and hedge funds own 95.66% of the company’s stock.
WWW stock traded down $0.18 during trading on Wednesday, hitting $29.43. The company had a trading volume of 780,948 shares, compared to its average volume of 704,836. The company has a quick ratio of 0.85, a current ratio of 1.48 and a debt-to-equity ratio of 0.64. Wolverine World Wide has a 1-year low of $29.00 and a 1-year high of $39.77. The stock has a market capitalization of $2.62 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, June 28th. Wolverine World Wide’s payout ratio is 18.43%.
About Wolverine World Wide
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.
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