Wolverine World Wide, Inc. (NYSE:WWW) – Stock analysts at DA Davidson cut their Q3 2018 earnings per share estimates for Wolverine World Wide in a report released on Wednesday, August 8th. DA Davidson analyst M. Kawamoto now forecasts that the textile maker will earn $0.54 per share for the quarter, down from their previous estimate of $0.56. DA Davidson currently has a “Buy” rating and a $44.00 target price on the stock. DA Davidson also issued estimates for Wolverine World Wide’s Q4 2018 earnings at $0.54 EPS, FY2018 earnings at $2.13 EPS and FY2019 earnings at $2.33 EPS.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, August 8th. The textile maker reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.08. Wolverine World Wide had a return on equity of 18.58% and a net margin of 2.83%. The firm had revenue of $566.90 million during the quarter, compared to analysts’ expectations of $569.24 million. During the same period in the previous year, the business earned $0.43 earnings per share. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis.
Shares of WWW opened at $38.39 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.65 and a quick ratio of 1.86. Wolverine World Wide has a one year low of $25.25 and a one year high of $38.52. The company has a market cap of $3.57 billion, a P/E ratio of 22.80, a PEG ratio of 1.76 and a beta of 0.98.
A number of large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC grew its holdings in Wolverine World Wide by 515.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,692 shares of the textile maker’s stock valued at $650,000 after buying an additional 15,654 shares in the last quarter. Bank of America Corp DE grew its holdings in Wolverine World Wide by 1.7% in the 2nd quarter. Bank of America Corp DE now owns 1,378,945 shares of the textile maker’s stock valued at $47,945,000 after buying an additional 22,691 shares in the last quarter. Raymond James & Associates acquired a new position in shares of Wolverine World Wide in the 2nd quarter valued at $205,000. ClariVest Asset Management LLC lifted its stake in shares of Wolverine World Wide by 150.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 113,397 shares of the textile maker’s stock valued at $3,943,000 after purchasing an additional 68,197 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Wolverine World Wide by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 233,200 shares of the textile maker’s stock valued at $8,148,000 after purchasing an additional 8,293 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.
In other Wolverine World Wide news, CFO Michael D. Stornant sold 38,010 shares of the company’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $32.38, for a total value of $1,230,763.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William K. Gerber sold 1,000 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $37.17, for a total value of $37,170.00. The disclosure for this sale can be found here. 5.81% of the stock is owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Monday, October 1st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.83%. The ex-dividend date is Friday, September 28th. Wolverine World Wide’s payout ratio is currently 19.51%.
About Wolverine World Wide
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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