Wolverine World Wide, Inc. (WWW) Expected to Announce Quarterly Sales of $581.47 Million
Wall Street analysts predict that Wolverine World Wide, Inc. (NYSE:WWW) will announce sales of $581.47 million for the current quarter, according to Zacks. Six analysts have made estimates for Wolverine World Wide’s earnings, with the highest sales estimate coming in at $584.10 million and the lowest estimate coming in at $577.50 million. Wolverine World Wide posted sales of $581.30 million in the same quarter last year, which suggests a positive year over year growth rate of 0%. The company is expected to issue its next earnings results on Wednesday, November 14th.
On average, analysts expect that Wolverine World Wide will report full-year sales of $2.29 billion for the current financial year, with estimates ranging from $2.28 billion to $2.31 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.37 billion, with estimates ranging from $2.34 billion to $2.40 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Wolverine World Wide.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, August 8th. The textile maker reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.08. Wolverine World Wide had a net margin of 2.83% and a return on equity of 18.58%. The business had revenue of $566.90 million for the quarter, compared to the consensus estimate of $569.24 million. During the same period in the prior year, the company posted $0.43 earnings per share. Wolverine World Wide’s revenue was down 5.3% compared to the same quarter last year.
Shares of WWW stock traded up $0.03 on Friday, hitting $34.84. The company’s stock had a trading volume of 18,505 shares, compared to its average volume of 676,679. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.86 and a current ratio of 2.65. Wolverine World Wide has a fifty-two week low of $25.25 and a fifty-two week high of $39.77. The company has a market capitalization of $3.71 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Monday, October 1st will be given a dividend of $0.08 per share. The ex-dividend date is Friday, September 28th. This represents a $0.32 annualized dividend and a yield of 0.92%. Wolverine World Wide’s dividend payout ratio is 19.51%.
In other news, Director William K. Gerber sold 1,000 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $37.17, for a total value of $37,170.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Jeppesen sold 49,151 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $37.77, for a total transaction of $1,856,433.27. Following the completion of the transaction, the insider now directly owns 156,470 shares of the company’s stock, valued at approximately $5,909,871.90. The disclosure for this sale can be found here. Insiders have sold 69,527 shares of company stock valued at $2,644,036 in the last ninety days. 5.81% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of WWW. Wells Fargo & Company MN lifted its holdings in shares of Wolverine World Wide by 114.3% in the first quarter. Wells Fargo & Company MN now owns 353,447 shares of the textile maker’s stock worth $10,214,000 after acquiring an additional 188,489 shares during the last quarter. Natixis Advisors L.P. bought a new position in shares of Wolverine World Wide in the first quarter worth about $383,000. Hsbc Holdings PLC lifted its holdings in shares of Wolverine World Wide by 91.7% in the first quarter. Hsbc Holdings PLC now owns 17,603 shares of the textile maker’s stock worth $509,000 after acquiring an additional 8,421 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Wolverine World Wide in the first quarter worth about $895,000. Finally, Sei Investments Co. lifted its holdings in shares of Wolverine World Wide by 8.8% in the first quarter. Sei Investments Co. now owns 178,898 shares of the textile maker’s stock worth $5,170,000 after acquiring an additional 14,523 shares during the last quarter. 92.75% of the stock is owned by hedge funds and other institutional investors.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.
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