Wolverine World Wide, Inc. (NYSE:WWW) Expected to Post Q2 2024 Earnings of $0.29 Per Share

Wolverine World Wide, Inc. (NYSE:WWW) – Investment analysts at Seaport Res Ptn reduced their Q2 2024 earnings per share (EPS) estimates for Wolverine World Wide in a research note issued on Monday, May 6th. Seaport Res Ptn analyst M. Kummetz now anticipates that the textile maker will post earnings of $0.29 per share for the quarter, down from their prior forecast of $0.37. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Wolverine World Wide’s current full-year earnings is $0.77 per share. Seaport Res Ptn also issued estimates for Wolverine World Wide’s Q3 2024 earnings at $0.36 EPS.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The firm had revenue of $526.70 million for the quarter, compared to the consensus estimate of $520.12 million. During the same period in the prior year, the firm posted ($0.15) earnings per share. The business’s revenue for the quarter was down 20.8% compared to the same quarter last year.

Several other research firms have also weighed in on WWW. Williams Trading raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $11.00 to $16.00 in a research note on Thursday. Telsey Advisory Group reissued a “market perform” rating and set a $10.00 price target on shares of Wolverine World Wide in a research report on Wednesday. UBS Group lifted their target price on Wolverine World Wide from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Robert W. Baird increased their target price on Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.67.

Wolverine World Wide Stock Up 5.0 %

Shares of Wolverine World Wide stock opened at $13.38 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 1.18 and a debt-to-equity ratio of 2.02. The stock has a market cap of $1.07 billion, a PE ratio of -26.23 and a beta of 1.73. The business has a fifty day simple moving average of $10.32 and a 200 day simple moving average of $9.30. Wolverine World Wide has a 12 month low of $7.21 and a 12 month high of $17.85.

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.99%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -78.43%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WWW. GAMMA Investing LLC acquired a new stake in shares of Wolverine World Wide in the fourth quarter valued at about $26,000. Central Pacific Bank Trust Division acquired a new stake in Wolverine World Wide in the first quarter valued at $81,000. Sherbrooke Park Advisers LLC bought a new position in shares of Wolverine World Wide in the 3rd quarter valued at about $93,000. Aristeia Capital LLC bought a new position in Wolverine World Wide during the third quarter worth about $103,000. Finally, Oxford Asset Management LLP acquired a new position in Wolverine World Wide during the fourth quarter worth approximately $124,000. Institutional investors and hedge funds own 90.25% 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 in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.