Wolverine World Wide, Inc. (NYSE:WWW) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.55-1.65 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.55. The company issued revenue guidance of $2.32-2.37, compared to the consensus revenue estimate of $2.34 billion.

Shares of Wolverine World Wide, Inc. (NYSE:WWW) traded down 4.374% during midday trading on Wednesday, hitting $26.565. The stock had a trading volume of 1,076,330 shares. The stock has a 50 day moving average of $27.26 and a 200-day moving average of $25.30. Wolverine World Wide, Inc. has a one year low of $20.58 and a one year high of $28.64. The company has a market cap of $2.57 billion, a P/E ratio of 30.153 and a beta of 0.94.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, August 9th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.14. Wolverine World Wide had a return on equity of 14.14% and a net margin of 3.47%. The firm had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $573.78 million. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Wolverine World Wide’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts forecast that Wolverine World Wide, Inc. will post $1.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 2nd will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, September 29th. Wolverine World Wide’s payout ratio is currently 27.27%.

WWW has been the topic of several research reports. Robert W. Baird upgraded Wolverine World Wide from a neutral rating to an outperform rating and upped their price objective for the company from $29.00 to $30.00 in a research note on Wednesday, May 17th. BidaskClub cut Wolverine World Wide from a buy rating to a hold rating in a research report on Wednesday, June 21st. Telsey Advisory Group increased their price target on Wolverine World Wide from $26.00 to $29.00 and gave the stock a market perform rating in a research report on Thursday, May 11th. Zacks Investment Research upgraded Wolverine World Wide from a hold rating to a buy rating and set a $28.00 price target on the stock in a research report on Saturday, May 13th. Finally, Wedbush increased their price target on Wolverine World Wide from $7.00 to $8.00 and gave the stock an outperform rating in a research report on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $23.57.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/09/wolverine-world-wide-inc-www-issues-fy17-earnings-guidance.html.

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.

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

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.