Wolverine World Wide (NYSE:WWW) Releases FY 2021 Earnings Guidance

Wolverine World Wide (NYSE:WWW) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $- for the period. The company issued revenue guidance of $2.24 billion-2.30 billion, compared to the consensus revenue estimate of $2.28 billion.

Wolverine World Wide stock traded up $0.22 on Thursday, hitting $36.30. 641,105 shares of the stock traded hands, compared to its average volume of 472,482. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.46 and a current ratio of 2.10. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -25.93 and a beta of 1.84. The firm has a fifty day moving average of $38.83. Wolverine World Wide has a 1 year low of $20.58 and a 1 year high of $44.74.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, May 12th. The textile maker reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The business had revenue of $510.70 million during the quarter, compared to analyst estimates of $508.32 million. Wolverine World Wide had a positive return on equity of 12.78% and a negative net margin of 6.01%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. On average, equities analysts forecast that Wolverine World Wide will post 2.07 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Thursday, July 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend 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%.

WWW has been the subject of several recent analyst reports. Telsey Advisory Group lifted their price target on Wolverine World Wide from $35.00 to $45.00 and gave the stock a market perform rating in a research report on Thursday, May 6th. TheStreet raised Wolverine World Wide from a c rating to a b- rating in a research report on Wednesday, May 12th. B. Riley lifted their price target on Wolverine World Wide from $39.00 to $45.00 and gave the stock a buy rating in a research report on Wednesday, March 24th. Robert W. Baird lifted their price objective on Wolverine World Wide from $42.00 to $45.00 and gave the stock an outperform rating in a report on Thursday. Finally, Argus lifted their price objective on Wolverine World Wide from $42.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, May 18th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $37.00.

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 value 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 legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Jeppesen sold 12,363 shares of the business’s stock in a transaction that occurred on Friday, May 14th. The stock was sold at an average price of $38.96, for a total value of $481,662.48. Following the completion of the transaction, the insider now directly owns 20,089 shares in the company, valued at $782,667.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,907 shares of company stock worth $1,425,529. Insiders own 4.73% of the company’s stock.

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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