Wolverine World Wide, Inc. (NYSE:WWW) Forecasted to Earn Q3 2024 Earnings of $0.20 Per Share

Wolverine World Wide, Inc. (NYSE:WWW) – Equities researchers at Telsey Advisory Group reduced their Q3 2024 earnings per share estimates for Wolverine World Wide in a research note issued on Thursday, August 8th. Telsey Advisory Group analyst D. Telsey now forecasts that the textile maker will post earnings of $0.20 per share for the quarter, down from their prior forecast of $0.36. Telsey Advisory Group currently has a “Market Perform” rating and a $14.00 target price on the stock. The consensus estimate for Wolverine World Wide’s current full-year earnings is $0.85 per share. Telsey Advisory Group also issued estimates for Wolverine World Wide’s Q4 2024 earnings at $0.45 EPS, Q3 2025 earnings at $0.25 EPS and Q4 2025 earnings at $0.46 EPS.

A number of other equities research analysts have also recently issued reports on the stock. Robert W. Baird upped their target price on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Seaport Res Ptn raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday, May 6th. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research note on Thursday, August 8th. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.00 to $20.00 in a report on Friday, July 19th. Finally, Williams Trading upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $16.00 in a report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Wolverine World Wide Price Performance

WWW opened at $12.69 on Monday. Wolverine World Wide has a 52 week low of $7.21 and a 52 week high of $15.23. The firm has a market capitalization of $1.02 billion, a PE ratio of -13.65 and a beta of 1.76. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19. The company has a fifty day moving average price of $13.34 and a two-hundred day moving average price of $11.59.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The company’s revenue for the quarter was down 27.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new stake in shares of Wolverine World Wide during the fourth quarter valued at about $26,000. Canada Pension Plan Investment Board acquired a new stake in shares of Wolverine World Wide in the second quarter worth $68,000. Central Pacific Bank Trust Division purchased a new position in shares of Wolverine World Wide during the first quarter worth $81,000. Natixis acquired a new position in Wolverine World Wide during the first quarter valued at $112,000. Finally, Oxford Asset Management LLP purchased a new position in Wolverine World Wide during the fourth quarter valued at approximately $124,000. 90.25% of the stock is currently owned by institutional investors.

Insider Transactions at Wolverine World Wide

In other news, insider Isabel Soriano sold 3,201 shares of Wolverine World Wide stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total value of $44,461.89. Following the completion of the sale, the insider now directly owns 26,519 shares in the company, valued at $368,348.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.28% of the company’s stock.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.15%. Wolverine World Wide’s dividend payout ratio is presently -43.01%.

Wolverine World Wide Company Profile

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.