Research Analysts Offer Predictions for Wolverine World Wide, Inc.’s FY2018 Earnings (NYSE:WWW)
Wolverine World Wide, Inc. (NYSE:WWW) – Research analysts at KeyCorp decreased their FY2018 earnings per share estimates for Wolverine World Wide in a note issued to investors on Tuesday, according to Zacks Investment Research. KeyCorp analyst E. Yruma now expects that the textile maker will earn $1.82 per share for the year, down from their previous estimate of $1.87. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Wolverine World Wide’s Q4 2018 earnings at $0.46 EPS.
Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, November 8th. The textile maker reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.06. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The firm had revenue of $581.30 million during the quarter, compared to analyst estimates of $552.36 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. Wolverine World Wide’s revenue for the quarter was down 3.7% on a year-over-year basis.
Wolverine World Wide (NYSE:WWW) traded down $0.19 during mid-day trading on Friday, reaching $33.39. 713,039 shares of the company’s stock traded hands, compared to its average volume of 756,608. Wolverine World Wide has a fifty-two week low of $20.94 and a fifty-two week high of $33.82. The company has a quick ratio of 2.06, a current ratio of 3.09 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $3,212.96, a price-to-earnings ratio of 55.65, a P/E/G ratio of 1.41 and a beta of 0.95.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Wolverine World Wide by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 8,791,948 shares of the textile maker’s stock worth $246,262,000 after buying an additional 221,866 shares during the period. Victory Capital Management Inc. increased its stake in Wolverine World Wide by 22.1% in the 3rd quarter. Victory Capital Management Inc. now owns 2,903,558 shares of the textile maker’s stock worth $83,768,000 after buying an additional 525,150 shares during the period. State Street Corp increased its stake in Wolverine World Wide by 2.9% in the 2nd quarter. State Street Corp now owns 2,382,061 shares of the textile maker’s stock worth $66,719,000 after buying an additional 67,591 shares during the period. FMR LLC increased its stake in Wolverine World Wide by 21.7% in the 2nd quarter. FMR LLC now owns 2,357,199 shares of the textile maker’s stock worth $66,025,000 after buying an additional 420,194 shares during the period. Finally, Northern Trust Corp increased its stake in Wolverine World Wide by 5.7% in the 2nd quarter. Northern Trust Corp now owns 2,009,729 shares of the textile maker’s stock worth $56,293,000 after buying an additional 107,517 shares during the period. 92.42% of the stock is currently owned by institutional investors.
In related news, insider Michael Jeppesen sold 11,807 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $27.97, for a total value of $330,241.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph R. Gromek sold 18,928 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $29.14, for a total transaction of $551,561.92. The disclosure for this sale can be found here. 5.65% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Tuesday, January 2nd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.72%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 40.00%.
ILLEGAL ACTIVITY WARNING: “Research Analysts Offer Predictions for Wolverine World Wide, Inc.’s FY2018 Earnings (NYSE:WWW)” was first published by Marea Informative and is the sole property of of Marea Informative. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://www.mareainformativa.com/wolverine-world-wide-inc-forecasted-to-post-fy2018-earnings-of-1-82-per-share-www-updated-updated-updated/125392/.
Wolverine World Wide Company Profile
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, and Chaco footwear; 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Wolverine World Wide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide and related companies with MarketBeat.com's FREE daily email newsletter.