Q2 2024 EPS Estimates for Wolverine World Wide, Inc. Decreased by Seaport Res Ptn (NYSE:WWW)

Wolverine World Wide, Inc. (NYSE:WWW) – Analysts at Seaport Res Ptn reduced their Q2 2024 earnings per share estimates for Wolverine World Wide in a research report issued to clients and investors on Monday, May 6th. Seaport Res Ptn analyst M. Kummetz now forecasts that the textile maker will post earnings of $0.29 per share for the quarter, down from their prior estimate of $0.37. Seaport Res Ptn currently 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 Q3 2024 earnings at $0.36 EPS.

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and set a $10.00 price objective on shares of Wolverine World Wide in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.63.

Wolverine World Wide Trading Down 0.1 %

Shares of Wolverine World Wide stock opened at $11.42 on Wednesday. The stock has a market capitalization of $912.57 million, a P/E ratio of -22.39 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 company has a quick ratio of 0.75, a current ratio of 1.18 and a debt-to-equity ratio of 2.02. The company has a 50-day simple moving average of $10.20 and a 200 day simple moving average of $9.24.

Wolverine World Wide (NYSE:WWW) last announced 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 company had revenue of $526.70 million during the quarter, compared to analyst estimates of $520.12 million. During the same period in the prior year, the firm earned ($0.15) EPS. Wolverine World Wide’s quarterly revenue was down 20.8% compared to the same quarter last year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.50%. The ex-dividend date is Monday, July 1st. Wolverine World Wide’s dividend payout ratio is -78.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WWW. GAMMA Investing LLC acquired a new position in shares of Wolverine World Wide during the fourth quarter valued at $26,000. Central Pacific Bank Trust Division bought a new stake in Wolverine World Wide during the 1st quarter worth about $81,000. Sherbrooke Park Advisers LLC acquired a new position in Wolverine World Wide during the 3rd quarter valued at about $93,000. Aristeia Capital LLC bought a new position in shares of Wolverine World Wide in the 3rd quarter valued at about $103,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Wolverine World Wide during the 4th quarter worth approximately $124,000. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Company Profile

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.