FY2024 EPS Estimates for Wolverine World Wide, Inc. Lifted by Seaport Res Ptn (NYSE:WWW)

Wolverine World Wide, Inc. (NYSE:WWW) – Stock analysts at Seaport Res Ptn boosted their FY2024 earnings per share (EPS) estimates for Wolverine World Wide in a research report issued on Monday, May 6th. Seaport Res Ptn analyst M. Kummetz now anticipates that the textile maker will post earnings per share of $0.80 for the year, up from their prior estimate of $0.75. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Wolverine World Wide’s current full-year earnings is $0.77 per share. Seaport Res Ptn also issued estimates for Wolverine World Wide’s Q4 2024 earnings at $0.14 EPS, FY2025 earnings at $1.33 EPS and FY2026 earnings at $1.77 EPS.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. The business had revenue of $526.70 million during the quarter, compared to analysts’ expectations of $520.12 million. During the same quarter last year, the firm earned ($0.15) EPS. The firm’s quarterly revenue was down 20.8% compared to the same quarter last year.

Separately, Telsey Advisory Group reissued a “market perform” rating and issued a $10.00 target price on shares of Wolverine World Wide in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.63.

Wolverine World Wide Stock Performance

WWW stock opened at $12.73 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02. The firm has a market cap of $1.02 billion, a P/E ratio of -24.96 and a beta of 1.73. Wolverine World Wide has a 12-month low of $7.21 and a 12-month high of $17.85. The stock’s 50 day simple moving average is $10.26 and its 200 day simple moving average is $9.27.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds and other institutional investors have recently modified their holdings of WWW. Vanguard Group Inc. increased its holdings in Wolverine World Wide by 1.2% in the third quarter. Vanguard Group Inc. now owns 9,282,319 shares of the textile maker’s stock valued at $74,815,000 after purchasing an additional 109,833 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Wolverine World Wide by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock valued at $15,753,000 after acquiring an additional 103,368 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Wolverine World Wide by 2.1% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,542,637 shares of the textile maker’s stock worth $12,434,000 after purchasing an additional 32,100 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Wolverine World Wide by 13.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,446,579 shares of the textile maker’s stock worth $11,659,000 after purchasing an additional 175,039 shares in the last quarter. Finally, Callodine Capital Management LP bought a new position in shares of Wolverine World Wide during the 3rd quarter worth about $8,060,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be paid a $0.10 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.40 annualized dividend and a yield of 3.14%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -78.43%.

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. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.