Wolverine World Wide, Inc. (NYSE:WWW) Expected to Earn Q3 2021 Earnings of $0.68 Per Share

Wolverine World Wide, Inc. (NYSE:WWW) – Stock analysts at B. Riley lowered their Q3 2021 EPS estimates for shares of Wolverine World Wide in a report issued on Wednesday, May 12th. B. Riley analyst S. Anderson now forecasts that the textile maker will post earnings per share of $0.68 for the quarter, down from their prior estimate of $0.69. B. Riley currently has a “Buy” rating and a $45.00 target price on the stock. B. Riley also issued estimates for Wolverine World Wide’s Q3 2021 earnings at $0.68 EPS and FY2022 earnings at $2.47 EPS.

Several other research firms have also recently commented on WWW. Telsey Advisory Group boosted their price target on shares of Wolverine World Wide from $35.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday. Pivotal Research restated a “buy” rating on shares of Wolverine World Wide in a report on Friday, May 7th. TheStreet upgraded shares of Wolverine World Wide from a “c” rating to a “b-” rating in a report on Wednesday. Finally, Robert W. Baird boosted their price target on shares of Wolverine World Wide from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Wolverine World Wide presently has a consensus rating of “Buy” and an average price target of $35.00.

Wolverine World Wide stock opened at $38.60 on Friday. The company’s fifty day simple moving average is $40.14 and its 200-day simple moving average is $34.03. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.97. Wolverine World Wide has a 12 month low of $16.59 and a 12 month high of $44.74. The stock has a market cap of $3.19 billion, a P/E ratio of 55.14, a P/E/G ratio of 2.50 and a beta of 1.59.

Wolverine World Wide (NYSE:WWW) last announced its earnings results 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. Wolverine World Wide had a net margin of 3.00% and a return on equity of 17.74%. The company had revenue of $510.70 million for the quarter, compared to the consensus estimate of $508.32 million. During the same period in the previous year, the business earned $0.28 EPS. The company’s revenue was up 16.3% on a year-over-year basis.

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. raised its position in shares of Wolverine World Wide by 0.5% during the first quarter. UBS Asset Management Americas Inc. now owns 98,905 shares of the textile maker’s stock valued at $3,790,000 after buying an additional 457 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Wolverine World Wide by 3.2% during the fourth quarter. SG Americas Securities LLC now owns 17,813 shares of the textile maker’s stock valued at $557,000 after buying an additional 544 shares during the last quarter. Comerica Bank raised its position in shares of Wolverine World Wide by 0.6% during the fourth quarter. Comerica Bank now owns 86,130 shares of the textile maker’s stock valued at $2,635,000 after buying an additional 550 shares during the last quarter. Diversified Trust Co raised its position in shares of Wolverine World Wide by 3.1% during the first quarter. Diversified Trust Co now owns 18,018 shares of the textile maker’s stock valued at $690,000 after buying an additional 550 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Wolverine World Wide by 1,786.5% during the first quarter. Rockefeller Capital Management L.P. now owns 698 shares of the textile maker’s stock valued at $26,000 after buying an additional 661 shares during the last quarter. 91.49% of the stock is owned by institutional investors and hedge funds.

In other news, insider Christopher Hufnagel sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 72,563 shares of the company’s stock, valued at $2,972,180.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael A. Volkema sold 6,850 shares of the company’s stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $38.15, for a total transaction of $261,327.50. Insiders have sold 20,380 shares of company stock valued at $786,539 over the last 90 days. Corporate insiders own 4.88% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Shareholders of record on Thursday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, June 30th. Wolverine World Wide’s dividend payout ratio (DPR) is 17.78%.

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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Earnings History and Estimates for Wolverine World Wide (NYSE:WWW)

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