Wolverine World Wide (NYSE:WWW) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Wolverine World Wide (NYSE:WWW) issued its earnings results on Thursday. The textile maker reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.05, Briefing.com reports. The business had revenue of $574.30 million during the quarter, compared to analysts’ expectations of $575.97 million. Wolverine World Wide had a return on equity of 21.21% and a net margin of 8.02%. Wolverine World Wide’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share. Wolverine World Wide updated its FY19 guidance to $2.25 EPS.

WWW traded up $1.87 during trading on Friday, reaching $33.49. 1,669,417 shares of the stock traded hands, compared to its average volume of 772,080. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 15.43 and a beta of 1.06. Wolverine World Wide has a fifty-two week low of $23.05 and a fifty-two week high of $39.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.25 and a quick ratio of 0.70. The stock’s 50-day simple moving average is $28.74 and its two-hundred day simple moving average is $28.51.

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

Wolverine World Wide announced that its board has initiated a share repurchase plan on Wednesday, September 11th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the textile maker to reacquire up to 17.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

WWW has been the subject of several recent analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $34.00 target price (down previously from $38.00) on shares of Wolverine World Wide in a research report on Monday, August 5th. DA Davidson reaffirmed a “buy” rating on shares of Wolverine World Wide in a research report on Monday, November 4th. Pivotal Research raised their target price on Wolverine World Wide from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday. Wedbush reissued an “outperform” rating on shares of Wolverine World Wide in a research report on Tuesday, October 1st. Finally, ValuEngine raised Wolverine World Wide from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $36.60.

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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