FY2024 Earnings Forecast for Wolverine World Wide, Inc. (NYSE:WWW) Issued By Seaport Res Ptn

Wolverine World Wide, Inc. (NYSE:WWW) – Seaport Res Ptn boosted their FY2024 EPS estimates for shares of Wolverine World Wide in a report released on Monday, May 6th. Seaport Res Ptn analyst M. Kummetz now expects that the textile maker will post earnings of $0.80 per share for the year, up from their prior forecast of $0.75. Seaport Res Ptn has a “Buy” rating on the stock. The consensus estimate for Wolverine World Wide’s current full-year earnings is $0.77 per share. Seaport Res Ptn also issued estimates for Wolverine World Wide’s Q4 2024 earnings at $0.14 EPS, FY2025 earnings at $1.33 EPS and FY2026 earnings at $1.77 EPS.

A number of other brokerages have also issued reports on WWW. UBS Group increased their price target on Wolverine World Wide from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday. Robert W. Baird lifted their target price on Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday. Williams Trading upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $16.00 in a research report on Thursday. Finally, Telsey Advisory Group restated a “market perform” rating and set a $10.00 price objective on shares of Wolverine World Wide in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Wolverine World Wide presently has an average rating of “Hold” and a consensus price target of $11.67.

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $13.38 on Thursday. Wolverine World Wide has a fifty-two week low of $7.21 and a fifty-two week high of $17.85. The company has a quick ratio of 0.75, a current ratio of 1.18 and a debt-to-equity ratio of 2.02. The stock has a market cap of $1.07 billion, a P/E ratio of -26.23 and a beta of 1.73. The firm’s 50-day simple moving average is $10.32 and its 200 day simple moving average is $9.30.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. The business had revenue of $526.70 million for the quarter, compared to the consensus estimate of $520.12 million. During the same period in the previous year, the firm earned ($0.15) EPS. The firm’s revenue was down 20.8% on a year-over-year basis.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently made changes to their positions in WWW. GAMMA Investing LLC acquired a new position in shares of Wolverine World Wide in the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division bought a new position in shares of Wolverine World Wide during the first quarter worth $81,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Wolverine World Wide in the 3rd quarter valued at $93,000. Aristeia Capital LLC acquired a new position in shares of Wolverine World Wide in the 3rd quarter valued at approximately $103,000. Finally, Oxford Asset Management LLP bought a new stake in Wolverine World Wide in the 4th quarter valued at $124,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.99%. Wolverine World Wide’s payout ratio is currently -78.43%.

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.