Wall Street analysts predict that Wolverine World Wide, Inc. (NYSE:WWW) will post sales of $646.86 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Wolverine World Wide’s earnings, with the lowest sales estimate coming in at $599.50 million and the highest estimate coming in at $679.00 million. Wolverine World Wide reported sales of $493.10 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 31.2%. The firm is scheduled to report its next earnings results on Thursday, November 4th.
According to Zacks, analysts expect that Wolverine World Wide will report full-year sales of $2.46 billion for the current financial year, with estimates ranging from $2.38 billion to $2.50 billion. For the next year, analysts expect that the firm will post sales of $2.85 billion, with estimates ranging from $2.66 billion to $2.93 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Thursday, July 29th. The textile maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.20. The business had revenue of $631.90 million for the quarter, compared to the consensus estimate of $566.90 million. Wolverine World Wide had a negative net margin of 3.06% and a positive return on equity of 20.83%.
In related news, Director William K. Gerber sold 3,104 shares of the business’s stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $37.33, for a total value of $115,872.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kyle Hanson sold 2,231 shares of the stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $36.50, for a total value of $81,431.50. Following the sale, the vice president now directly owns 7,581 shares in the company, valued at approximately $276,706.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,141 shares of company stock valued at $300,452. 4.73% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Huntington National Bank increased its position in shares of Wolverine World Wide by 14.0% during the second quarter. Huntington National Bank now owns 2,687 shares of the textile maker’s stock worth $90,000 after purchasing an additional 329 shares in the last quarter. LPL Financial LLC grew its position in Wolverine World Wide by 4.8% during the 2nd quarter. LPL Financial LLC now owns 7,742 shares of the textile maker’s stock worth $260,000 after purchasing an additional 355 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Wolverine World Wide by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 45,578 shares of the textile maker’s stock worth $1,533,000 after buying an additional 453 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake 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 worth $3,790,000 after buying an additional 457 shares during the period. Finally, Profund Advisors LLC grew its holdings in shares of Wolverine World Wide by 5.4% during the second quarter. Profund Advisors LLC now owns 10,387 shares of the textile maker’s stock valued at $350,000 after buying an additional 533 shares during the last quarter. Institutional investors own 91.20% of the company’s stock.
WWW stock traded up $0.72 during trading on Friday, reaching $32.71. The company’s stock had a trading volume of 5,703 shares, compared to its average volume of 518,538. The company has a quick ratio of 1.44, a current ratio of 2.08 and a debt-to-equity ratio of 1.09. The company’s fifty day moving average is $34.65 and its 200-day moving average is $36.57. The company has a market capitalization of $2.69 billion, a P/E ratio of -37.64 and a beta of 1.82. Wolverine World Wide has a 1 year low of $24.81 and a 1 year high of $44.74.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.22%. Wolverine World Wide’s dividend payout ratio is currently 43.01%.
About Wolverine World Wide
Wolverine World Wide, Inc engages in the design, manufacture and sale of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group consists of Merrell footwear and apparel, Cat footwear, Wolverine footwear and apparel, Chaco footwear, Hush Puppies footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and Hytest safety footwear.
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