Wolverine World Wide, Inc. (WWW) Announces Earnings Results

Wolverine World Wide, Inc. (NYSE:WWW) released its quarterly earnings results on Wednesday, November 8th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.06, Bloomberg Earnings reports. The firm had revenue of $581.30 million during the quarter, compared to the consensus estimate of $552.36 million. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 earnings per share. Wolverine World Wide updated its FY17 guidance to $1.60-1.65 EPS.

Shares of Wolverine World Wide (NYSE WWW) traded down $0.42 during mid-day trading on Friday, reaching $28.14. 692,000 shares of the company’s stock traded hands, compared to its average volume of 782,796. The company has a market capitalization of $2,692.46, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94. The company has a current ratio of 3.09, a quick ratio of 2.06 and a debt-to-equity ratio of 0.74. Wolverine World Wide has a twelve month low of $20.94 and a twelve month high of $29.62.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, December 29th. Wolverine World Wide’s dividend payout ratio is 40.00%.

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WWW has been the subject of several recent analyst reports. ValuEngine cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Piper Jaffray Companies set a $25.00 price target on shares of Wolverine World Wide and gave the stock a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Saturday, August 12th. Robert W. Baird restated a “buy” rating and issued a $32.00 price target on shares of Wolverine World Wide in a report on Sunday, September 17th. Finally, Morgan Stanley raised their price target on shares of Wolverine World Wide from $22.50 to $24.50 and gave the stock an “equal weight” rating in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $25.65.

In other news, insider Michael Jeppesen sold 11,807 shares of Wolverine World Wide 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 Securities & Exchange Commission, which is available at this hyperlink. 5.65% of the stock is owned by company insiders.

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, 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.

Earnings History for Wolverine World Wide (NYSE:WWW)

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