Wolverine World Wide, Inc. (NYSE:WWW) – Equities research analysts at Wedbush cut their Q3 2017 earnings per share (EPS) estimates for Wolverine World Wide in a note issued to investors on Thursday. Wedbush analyst C. Svezia now anticipates that the textile maker will earn $0.53 per share for the quarter, down from their previous estimate of $0.56. Wedbush currently has a “Outperform” rating and a $8.00 price objective on the stock. Wedbush also issued estimates for Wolverine World Wide’s Q4 2017 earnings at $0.39 EPS, FY2017 earnings at $1.58 EPS and FY2018 earnings at $1.95 EPS.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, May 10th. The textile maker reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.06. Wolverine World Wide had a net margin of 4.02% and a return on equity of 13.38%. The business had revenue of $591.30 million during the quarter, compared to analysts’ expectations of $557.53 million. During the same quarter in the previous year, the company earned $0.29 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: This story was published by Markets Daily and is the sole property of of Markets Daily. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.themarketsdaily.com/2017/06/17/wedbush-analysts-reduce-earnings-estimates-for-wolverine-world-wide-inc-www-updated-updated-updated.html.
Several other research analysts also recently weighed in on the company. Piper Jaffray Companies set a $19.00 target price on Wolverine World Wide and gave the stock a “hold” rating in a research note on Monday, February 6th. Zacks Investment Research upgraded Wolverine World Wide from a “sell” rating to a “hold” rating in a research report on Tuesday, January 17th. Telsey Advisory Group boosted their price target on Wolverine World Wide from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Thursday, February 23rd. TheStreet cut Wolverine World Wide from a “b-” rating to a “c+” rating in a research report on Wednesday, February 22nd. Finally, Pacific Crest cut Wolverine World Wide to a “hold” rating in a research report on Saturday, February 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Wolverine World Wide has an average rating of “Hold” and a consensus price target of $22.50.
Wolverine World Wide (NYSE:WWW) opened at 24.64 on Monday. The firm has a 50-day moving average of $24.44 and a 200-day moving average of $23.75. Wolverine World Wide has a 1-year low of $16.64 and a 1-year high of $26.85. The stock has a market cap of $2.37 billion, a PE ratio of 27.97 and a beta of 0.65.
Hedge funds have recently modified their holdings of the company. Capital Fund Management S.A. purchased a new stake in shares of Wolverine World Wide during the third quarter valued at approximately $4,908,000. Virginia Retirement Systems ET AL boosted its stake in shares of Wolverine World Wide by 59.9% in the third quarter. Virginia Retirement Systems ET AL now owns 62,700 shares of the textile maker’s stock valued at $1,444,000 after buying an additional 23,500 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Wolverine World Wide during the third quarter valued at approximately $6,437,000. WealthTrust Fairport LLC purchased a new stake in shares of Wolverine World Wide during the third quarter valued at approximately $984,000. Finally, BlackRock Inc. boosted its stake in shares of Wolverine World Wide by 4.1% in the third quarter. BlackRock Inc. now owns 22,548 shares of the textile maker’s stock valued at $519,000 after buying an additional 884 shares during the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 3rd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Thursday, June 29th. Wolverine World Wide’s payout ratio is 23.30%.
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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