Wolverine World Wide, Inc. (NYSE:WWW) – Equities research analysts at KeyCorp reduced their Q4 2017 earnings per share estimates for shares of Wolverine World Wide in a research report issued on Wednesday. KeyCorp analyst E. Yruma now anticipates that the textile maker will earn $0.40 per share for the quarter, down from their previous estimate of $0.42. KeyCorp currently has a “Hold” rating on the stock.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, November 8th. The textile maker reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $581.30 million for the quarter, compared to analysts’ expectations of $552.36 million. Wolverine World Wide had a return on equity of 15.25% and a net margin of 2.35%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 EPS. WARNING: This piece of content was originally reported by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.themarketsdaily.com/2017/11/14/keycorp-analysts-decrease-earnings-estimates-for-wolverine-world-wide-inc-www.html.
Several other research firms have also recently issued reports on WWW. Pivotal Research assumed coverage on Wolverine World Wide in a research report on Thursday, October 5th. They issued a “hold” rating and a $32.00 target price on the stock. ValuEngine lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Telsey Advisory Group raised their price objective on Wolverine World Wide from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Thursday, November 9th. Piper Jaffray Companies reissued a “hold” rating and issued a $26.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, November 8th. Finally, Buckingham Research raised their price objective on Wolverine World Wide from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $25.65.
Shares of Wolverine World Wide (WWW) opened at $27.80 on Monday. Wolverine World Wide has a fifty-two week low of $20.94 and a fifty-two week high of $29.62. The company has a current ratio of 3.09, a quick ratio of 2.06 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $2,655.14, a price-to-earnings ratio of 17.79, a PEG ratio of 1.36 and a beta of 0.94.
Hedge funds have recently modified their holdings of the business. Bank of Montreal Can raised its holdings in shares of Wolverine World Wide by 1.3% during the second quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock valued at $138,000 after buying an additional 64 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Wolverine World Wide during the second quarter valued at approximately $202,000. Papp L Roy & Associates bought a new stake in shares of Wolverine World Wide during the second quarter valued at approximately $204,000. Riverhead Capital Management LLC raised its holdings in shares of Wolverine World Wide by 62.2% during the second quarter. Riverhead Capital Management LLC now owns 7,625 shares of the textile maker’s stock valued at $214,000 after buying an additional 2,925 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in shares of Wolverine World Wide during the second quarter valued at approximately $221,000. Institutional investors own 91.51% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Tuesday, January 2nd will be paid a $0.06 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.24 dividend on an annualized basis and a yield of 0.86%. Wolverine World Wide’s dividend payout ratio (DPR) is 40.00%.
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.
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