Wall Street analysts expect Wolverine World Wide, Inc. (NYSE:WWW) to report earnings per share of $0.46 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Wolverine World Wide’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.42. Wolverine World Wide posted earnings of $0.08 per share in the same quarter last year, which would suggest a positive year over year growth rate of 475%. The business is scheduled to announce its next earnings report on Wednesday, August 4th.
According to Zacks, analysts expect that Wolverine World Wide will report full year earnings of $2.09 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.14. For the next fiscal year, analysts anticipate that the company will post earnings of $2.40 per share, with EPS estimates ranging from $2.35 to $2.47. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, May 12th. The textile maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $510.70 million for the quarter, compared to the consensus estimate of $508.32 million. Wolverine World Wide had a negative net margin of 6.01% and a positive return on equity of 12.78%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share.
In related news, VP Amy M. Klimek sold 1,463 shares of the business’s stock in a transaction that occurred on Tuesday, April 20th. The stock was sold at an average price of $38.54, for a total transaction of $56,384.02. Following the transaction, the vice president now directly owns 31,458 shares of the company’s stock, valued at approximately $1,212,391.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Hufnagel sold 2,000 shares of the stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $40.96, for a total transaction of $81,920.00. Following the completion of the sale, the insider now directly owns 72,563 shares of the company’s stock, valued at approximately $2,972,180.48. The disclosure for this sale can be found here. Insiders have sold a total of 36,907 shares of company stock worth $1,425,529 in the last 90 days. Company insiders own 4.73% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Wolverine World Wide during the 4th quarter worth $32,201,000. BlackRock Inc. grew its stake in shares of Wolverine World Wide by 5.6% during the first quarter. BlackRock Inc. now owns 13,391,716 shares of the textile maker’s stock valued at $513,171,000 after acquiring an additional 711,972 shares in the last quarter. Earnest Partners LLC increased its position in shares of Wolverine World Wide by 12.4% during the first quarter. Earnest Partners LLC now owns 5,579,343 shares of the textile maker’s stock worth $213,800,000 after acquiring an additional 616,196 shares during the last quarter. Champlain Investment Partners LLC increased its position in shares of Wolverine World Wide by 9.4% during the first quarter. Champlain Investment Partners LLC now owns 3,864,235 shares of the textile maker’s stock worth $148,077,000 after acquiring an additional 333,015 shares during the last quarter. Finally, Moody Aldrich Partners LLC lifted its stake in shares of Wolverine World Wide by 86.5% in the first quarter. Moody Aldrich Partners LLC now owns 331,470 shares of the textile maker’s stock worth $12,702,000 after acquiring an additional 153,703 shares in the last quarter. 92.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of Wolverine World Wide stock traded up $0.22 during trading hours on Thursday, reaching $36.30. 633,935 shares of the company’s stock were exchanged, compared to its average volume of 472,417. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -25.93 and a beta of 1.84. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.10 and a quick ratio of 1.46. Wolverine World Wide has a 52-week low of $20.58 and a 52-week high of $44.74. The company’s fifty day moving average is $38.83.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Thursday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Wednesday, June 30th. Wolverine World Wide’s dividend payout ratio is presently 43.01%.
About Wolverine World Wide
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.
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