Wolverine World Wide, Inc. (NYSE:WWW) – Wedbush lifted their FY2017 EPS estimates for shares of Wolverine World Wide in a report issued on Thursday. Wedbush analyst C. Svezia now expects that the textile maker will post earnings of $1.62 per share for the year, up from their prior estimate of $1.58. Wedbush currently has a “Outperform” rating and a $8.00 target price on the stock. Wedbush also issued estimates for Wolverine World Wide’s Q4 2017 earnings at $0.45 EPS.
A number of other equities research analysts have also issued reports on WWW. B. Riley reissued a “neutral” rating and issued a $26.00 price target on shares of Wolverine World Wide in a report on Monday, May 8th. Piper Jaffray Companies set a $25.00 price target on shares of Wolverine World Wide and gave the stock a “hold” rating in a report on Wednesday. ValuEngine raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Friday. BidaskClub lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, TheStreet raised shares of Wolverine World Wide from a “c+” rating to a “b” rating in a research note on Wednesday, May 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.71.
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Wolverine World Wide (WWW) traded up 0.23% during mid-day trading on Friday, hitting $26.00. 110,402 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $27.39 and its 200-day moving average price is $25.41. The stock has a market cap of $2.50 billion, a PE ratio of 30.55 and a beta of 0.94. Wolverine World Wide has a 12 month low of $20.58 and a 12 month high of $28.64.
Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.14. The firm had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $573.78 million. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 2nd will be given a dividend of $0.06 per share. The ex-dividend date is Friday, September 29th. This represents a $0.24 dividend on an annualized basis and a yield of 0.93%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 28.24%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Wolverine World Wide by 55,444.0% in the first quarter. BlackRock Inc. now owns 12,193,018 shares of the textile maker’s stock worth $304,461,000 after buying an additional 12,171,066 shares during the period. Vanguard Group Inc. boosted its position in shares of Wolverine World Wide by 5.9% in the first quarter. Vanguard Group Inc. now owns 8,570,082 shares of the textile maker’s stock worth $213,996,000 after buying an additional 476,268 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Wolverine World Wide by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,687,149 shares of the textile maker’s stock worth $117,039,000 after buying an additional 226,965 shares during the period. Wellington Management Group LLP boosted its position in shares of Wolverine World Wide by 1,032.2% in the first quarter. Wellington Management Group LLP now owns 2,826,644 shares of the textile maker’s stock worth $70,581,000 after buying an additional 2,576,990 shares during the period. Finally, State Street Corp boosted its position in shares of Wolverine World Wide by 5.3% in the first quarter. State Street Corp now owns 2,314,470 shares of the textile maker’s stock worth $57,791,000 after buying an additional 116,529 shares during the period. 91.72% of the stock is owned by institutional investors.
About Wolverine World Wide
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, Chaco footwear, and Sebago footwear and apparel; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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