Wolverine World Wide (NYSE:WWW) Releases Earnings Results, Beats Estimates By $0.02 EPS

Wolverine World Wide (NYSE:WWW) issued its quarterly earnings results on Thursday, May 9th. The textile maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.02, MarketWatch Earnings reports. The firm had revenue of $523.40 million for the quarter, compared to the consensus estimate of $535.82 million. Wolverine World Wide had a return on equity of 20.97% and a net margin of 8.70%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. Wolverine World Wide updated its FY 2019 guidance to $2.20-2.35 EPS and its FY19 guidance to $2.20-2.35 EPS.

Shares of Wolverine World Wide stock opened at $27.94 on Friday. Wolverine World Wide has a 1-year low of $27.64 and a 1-year high of $39.77. The company has a market cap of $2.51 billion, a PE ratio of 12.88, a P/E/G ratio of 1.23 and a beta of 0.96. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.48.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, June 28th. Wolverine World Wide’s dividend payout ratio is currently 18.43%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Premia Global Advisors LLC acquired a new position in Wolverine World Wide in the first quarter valued at approximately $47,000. Quadrant Capital Group LLC lifted its stake in Wolverine World Wide by 216.5% during the first quarter. Quadrant Capital Group LLC now owns 2,453 shares of the textile maker’s stock worth $85,000 after purchasing an additional 1,678 shares in the last quarter. Huntington National Bank lifted its stake in Wolverine World Wide by 77.2% during the fourth quarter. Huntington National Bank now owns 2,929 shares of the textile maker’s stock worth $93,000 after purchasing an additional 1,276 shares in the last quarter. One Wealth Advisors LLC acquired a new position in Wolverine World Wide during the first quarter worth $125,000. Finally, Pinnacle Financial Partners Inc. acquired a new position in Wolverine World Wide during the first quarter worth $158,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

WWW has been the subject of a number of research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $38.00 price target (up previously from $35.00) on shares of Wolverine World Wide in a research report on Tuesday, February 19th. Zacks Investment Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Saturday, February 16th. ValuEngine upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. Wedbush reiterated an “outperform” rating on shares of Wolverine World Wide in a research note on Thursday, February 21st. Finally, DA Davidson set a $40.00 price target on Wolverine World Wide and gave the company a “buy” rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $38.65.

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Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.

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Earnings History for Wolverine World Wide (NYSE:WWW)

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