FY2022 EPS Estimates for Wolverine World Wide, Inc. (NYSE:WWW) Cut by Seaport Res Ptn

Wolverine World Wide, Inc. (NYSE:WWWGet Rating) – Seaport Res Ptn reduced their FY2022 earnings per share estimates for Wolverine World Wide in a note issued to investors on Wednesday, May 4th. Seaport Res Ptn analyst M. Kummetz now anticipates that the textile maker will post earnings per share of $2.55 for the year, down from their prior estimate of $2.60. Seaport Res Ptn currently has a “Neutral” rating on the stock. Seaport Res Ptn also issued estimates for Wolverine World Wide’s FY2023 earnings at $2.86 EPS.

Several other equities research analysts have also commented on the stock. StockNews.com started coverage on shares of Wolverine World Wide in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Wolverine World Wide from a “sell” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Thursday, January 13th. Telsey Advisory Group cut their price target on Wolverine World Wide from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Thursday, February 24th. B. Riley reduced their target price on Wolverine World Wide from $37.00 to $35.00 in a research note on Thursday, February 24th. Finally, UBS Group lowered their target price on shares of Wolverine World Wide from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, March 8th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.30.

Shares of WWW opened at $19.16 on Friday. The company has a market cap of $1.56 billion, a P/E ratio of 23.95 and a beta of 1.76. The firm’s 50 day moving average price is $22.21 and its 200 day moving average price is $27.06. Wolverine World Wide has a fifty-two week low of $18.82 and a fifty-two week high of $44.74. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 1.14.

Wolverine World Wide (NYSE:WWWGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The textile maker reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The business had revenue of $635.60 million during the quarter, compared to analysts’ expectations of $630.07 million. Wolverine World Wide had a return on equity of 27.42% and a net margin of 2.83%. The company’s revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 EPS.

Institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its holdings in shares of Wolverine World Wide by 3,394.7% during the 1st quarter. Signaturefd LLC now owns 1,328 shares of the textile maker’s stock worth $30,000 after purchasing an additional 1,290 shares in the last quarter. US Asset Management LLC bought a new stake in Wolverine World Wide in the 1st quarter valued at $52,000. Cornerstone Advisory LLC acquired a new position in shares of Wolverine World Wide in the 4th quarter valued at $62,000. Alpha Paradigm Partners LLC bought a new position in shares of Wolverine World Wide during the 4th quarter worth about $74,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Wolverine World Wide during the 3rd quarter worth about $84,000. Hedge funds and other institutional investors own 93.90% of the company’s stock.

In other Wolverine World Wide news, CEO Brendan Hoffman acquired 5,000 shares of Wolverine World Wide stock in a transaction dated Tuesday, March 8th. The stock was bought at an average cost of $21.65 per share, with a total value of $108,250.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brenda J. Lauderback sold 4,975 shares of the business’s stock in a transaction on Monday, February 28th. The stock was sold at an average price of $23.34, for a total transaction of $116,116.50. The disclosure for this sale can be found here. 4.73% of the stock is currently owned by company insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.09%. Wolverine World Wide’s dividend payout ratio is currently 50.00%.

Wolverine World Wide Company Profile (Get Rating)

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. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.

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Earnings History and Estimates for Wolverine World Wide (NYSE:WWW)

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