Q3 2023 Earnings Estimate for Wolverine World Wide, Inc. (NYSE:WWW) Issued By Zacks Research

Posted by Defense World Staff on May 26th, 2023

Wolverine World Wide, Inc. (NYSE:WWW – Get Rating) – Equities researchers at Zacks Research raised their Q3 2023 earnings estimates for shares of Wolverine World Wide in a report issued on Wednesday, May 24th. Zacks Research analyst S. Singh now forecasts that the textile maker will post earnings per share of $0.70 for the quarter, up from their previous forecast of $0.65. The consensus estimate for Wolverine World Wide’s current full-year earnings is $1.50 per share. Zacks Research also issued estimates for Wolverine World Wide’s Q4 2023 earnings at $0.51 EPS, FY2023 earnings at $1.50 EPS, Q1 2024 earnings at $0.32 EPS, Q2 2024 earnings at $0.42 EPS, Q4 2024 earnings at $0.73 EPS, FY2024 earnings at $2.32 EPS and FY2025 earnings at $2.76 EPS.

Wolverine World Wide (NYSE:WWW – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The textile maker reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $665.00 million during the quarter, compared to the consensus estimate of $665.04 million. Wolverine World Wide had a positive return on equity of 17.61% and a negative net margin of 6.71%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share.

Other equities research analysts have also recently issued reports about the stock. Telsey Advisory Group restated a “market perform” rating and set a $14.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, February 22nd. Stifel Nicolaus boosted their price target on shares of Wolverine World Wide from $15.00 to $18.00 in a research report on Thursday, May 11th. Robert W. Baird increased their price objective on shares of Wolverine World Wide from $13.00 to $15.00 in a report on Thursday, May 11th. Seaport Res Ptn raised Wolverine World Wide from a “neutral” rating to a “buy” rating in a report on Monday, March 13th. Finally, StockNews.com upgraded Wolverine World Wide from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.00.

Wolverine World Wide Trading Up 0.3 %

Shares of WWW stock opened at $14.30 on Friday. Wolverine World Wide has a 1 year low of $9.60 and a 1 year high of $24.08. The stock has a fifty day moving average of $16.04 and a two-hundred day moving average of $14.27. The company has a current ratio of 1.16, a quick ratio of 0.46 and a debt-to-equity ratio of 2.09.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WWW. US Asset Management LLC purchased a new position in Wolverine World Wide during the 4th quarter worth approximately $26,000. Versant Capital Management Inc grew its holdings in shares of Wolverine World Wide by 182.5% during the first quarter. Versant Capital Management Inc now owns 1,667 shares of the textile maker’s stock valued at $28,000 after buying an additional 1,077 shares in the last quarter. Eagle Bay Advisors LLC raised its position in Wolverine World Wide by 43.3% during the first quarter. Eagle Bay Advisors LLC now owns 3,999 shares of the textile maker’s stock valued at $29,000 after buying an additional 1,209 shares during the period. Gladius Capital Management LP purchased a new stake in Wolverine World Wide in the 4th quarter worth about $37,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Wolverine World Wide by 187.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321 shares of the textile maker’s stock worth $40,000 after acquiring an additional 1,514 shares in the last quarter. 97.08% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 3rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.80%. Wolverine World Wide’s dividend payout ratio is currently -17.02%.

Wolverine World Wide Company Profile

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Wolverine World Wide, Inc engages in the design, manufacture, and sale of branded casual, active lifestyle, work, outdoor sport, athletic, uniform, footwear, and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group consists of Merrell, Cat, Chaco, Hush Puppies, Bates uniform, Harley-Davidson and Hytest safety footwear and apparel.