Brokerages forecast that Wolverine World Wide, Inc. (NYSE:WWW) will post $586.90 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Wolverine World Wide’s earnings, with the lowest sales estimate coming in at $580.40 million and the highest estimate coming in at $594.10 million. Wolverine World Wide posted sales of $581.30 million in the same quarter last year, which suggests a positive year over year growth rate of 1%. The business is scheduled to issue its next earnings report on Wednesday, November 14th.
On average, analysts expect that Wolverine World Wide will report full-year sales of $2.29 billion for the current year, with estimates ranging from $2.28 billion to $2.30 billion. For the next year, analysts forecast that the business will report sales of $2.37 billion per share, with estimates ranging from $2.34 billion to $2.40 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, August 8th. The textile maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.08. Wolverine World Wide had a net margin of 2.83% and a return on equity of 18.58%. The company had revenue of $566.90 million for the quarter, compared to analyst estimates of $569.24 million. During the same period in the prior year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year.
Wolverine World Wide traded down $0.14, hitting $37.54, on Friday, according to Marketbeat.com. 772,720 shares of the company were exchanged, compared to its average volume of 614,550. The company has a current ratio of 2.65, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. Wolverine World Wide has a fifty-two week low of $25.25 and a fifty-two week high of $37.92. The firm has a market capitalization of $3.58 billion, a P/E ratio of 22.89, a PEG ratio of 1.77 and a beta of 0.98.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, October 1st will be given a $0.08 dividend. The ex-dividend date is Friday, September 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. Wolverine World Wide’s dividend payout ratio is presently 19.51%.
In other news, CFO Michael D. Stornant sold 38,010 shares of the stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $32.38, for a total value of $1,230,763.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.81% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in WWW. Pinnacle Financial Partners Inc. purchased a new position in shares of Wolverine World Wide during the first quarter valued at approximately $128,000. Point72 Asia Hong Kong Ltd lifted its stake in shares of Wolverine World Wide by 442.2% during the first quarter. Point72 Asia Hong Kong Ltd now owns 5,509 shares of the textile maker’s stock valued at $159,000 after buying an additional 4,493 shares during the period. A.R.T. Advisors LLC purchased a new position in shares of Wolverine World Wide during the first quarter valued at approximately $219,000. Cape Cod Five Cents Savings Bank purchased a new position in shares of Wolverine World Wide during the second quarter valued at approximately $220,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Wolverine World Wide during the second quarter valued at approximately $224,000. 96.10% of the stock is currently owned by institutional investors and hedge funds.
About Wolverine World Wide
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.
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