Wolverine World Wide, Inc. Forecasted to Earn Q3 2024 Earnings of $0.39 Per Share (NYSE:WWW)

Wolverine World Wide, Inc. (NYSE:WWW) – Equities research analysts at Seaport Res Ptn cut their Q3 2024 earnings per share (EPS) estimates for Wolverine World Wide in a research note issued on Tuesday, July 30th. Seaport Res Ptn analyst M. Kummetz now expects that the textile maker will earn $0.39 per share for the quarter, down from their previous estimate of $0.43. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Wolverine World Wide’s current full-year earnings is $0.82 per share. Seaport Res Ptn also issued estimates for Wolverine World Wide’s FY2025 earnings at $1.35 EPS.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, May 8th. The textile maker reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Wolverine World Wide had a positive return on equity of 0.53% and a negative net margin of 3.59%. The firm had revenue of $394.90 million for the quarter, compared to analysts’ expectations of $360.31 million.

Several other research analysts have also commented on the company. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $20.00 in a report on Friday, July 19th. Telsey Advisory Group reissued a “market perform” rating and set a $14.00 price objective on shares of Wolverine World Wide in a report on Thursday. Williams Trading raised Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $16.00 in a report on Thursday, May 9th. Finally, Robert W. Baird boosted their price objective on Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.89.

Wolverine World Wide Stock Down 3.0 %

Shares of NYSE WWW opened at $13.72 on Friday. Wolverine World Wide has a 12 month low of $7.21 and a 12 month high of $15.23. The company has a current ratio of 1.13, a quick ratio of 0.65 and a debt-to-equity ratio of 2.24. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -14.75 and a beta of 1.76. The business has a 50-day moving average of $13.44 and a 200-day moving average of $11.34.

Hedge Funds Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently made changes to their positions in the business. Panagora Asset Management Inc. bought a new position in Wolverine World Wide in the second quarter worth $3,979,000. Bank of New York Mellon Corp raised its holdings in Wolverine World Wide by 6.5% in the second quarter. Bank of New York Mellon Corp now owns 994,443 shares of the textile maker’s stock worth $13,445,000 after purchasing an additional 60,481 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Wolverine World Wide by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock worth $544,000 after purchasing an additional 800 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Wolverine World Wide by 41.1% in the second quarter. Nisa Investment Advisors LLC now owns 41,391 shares of the textile maker’s stock worth $560,000 after purchasing an additional 12,061 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Wolverine World Wide in the second quarter worth $548,000. Institutional investors own 90.25% of the company’s stock.

Insider Activity

In other news, insider Isabel Soriano sold 3,201 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $13.89, for a total transaction of $44,461.89. Following the completion of the sale, the insider now owns 26,519 shares of the company’s stock, valued at $368,348.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.28% of the company’s stock.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.