Wolverine World Wide (NYSE:WWW) Issues FY19 Earnings Guidance

Wolverine World Wide (NYSE:WWW) updated its FY19 earnings guidance on Thursday. The company provided EPS guidance of $2.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.28. The company issued revenue guidance of $2.28 billion, compared to the consensus revenue estimate of $2.29 billion.

A number of brokerages recently weighed in on WWW. Wedbush reissued an outperform rating on shares of Wolverine World Wide in a report on Tuesday, October 1st. Pivotal Research raised their price target on shares of Wolverine World Wide from $30.00 to $32.00 and gave the company a hold rating in a report on Friday. Telsey Advisory Group reissued a market perform rating and issued a $34.00 price target (down previously from $38.00) on shares of Wolverine World Wide in a report on Monday, August 5th. DA Davidson reissued a buy rating on shares of Wolverine World Wide in a report on Monday. Finally, ValuEngine raised shares of Wolverine World Wide from a sell rating to a hold rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $37.02.

WWW traded up $1.87 during trading on Friday, reaching $33.49. 1,671,830 shares of the company’s stock were exchanged, compared to its average volume of 772,080. The company’s fifty day moving average price is $28.74 and its 200-day moving average price is $28.51. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.70 and a current ratio of 1.25. Wolverine World Wide has a fifty-two week low of $23.05 and a fifty-two week high of $39.72. The firm has a market capitalization of $2.58 billion, a PE ratio of 15.43 and a beta of 1.06.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Thursday, November 7th. The textile maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Wolverine World Wide had a net margin of 8.02% and a return on equity of 21.21%. The firm had revenue of $574.30 million during the quarter, compared to analyst estimates of $575.97 million. During the same quarter in the previous year, the business earned $0.62 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts forecast that Wolverine World Wide will post 2.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Tuesday, December 31st. Wolverine World Wide’s dividend payout ratio is presently 18.43%.

Wolverine World Wide announced that its board has approved a share repurchase program on Wednesday, September 11th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the textile maker to reacquire up to 17.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

About Wolverine World Wide

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 and Estimates for Wolverine World Wide (NYSE:WWW)

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