Wolverine World Wide, Inc. (WWW) Issues FY17 Earnings Guidance
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.
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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