Seaport Res Ptn Issues Positive Outlook for WWW Earnings

Wolverine World Wide, Inc. (NYSE:WWW) – Seaport Res Ptn raised their Q3 2024 earnings estimates for shares of Wolverine World Wide in a research note issued on Monday, November 4th. Seaport Res Ptn analyst M. Kummetz now expects that the textile maker will post earnings of $0.22 per share for the quarter, up from their previous forecast of $0.20. The consensus estimate for Wolverine World Wide’s current full-year earnings is $0.85 per share. Seaport Res Ptn also issued estimates for Wolverine World Wide’s Q4 2024 earnings at $0.43 EPS.

A number of other analysts also recently issued reports on the stock. Robert W. Baird raised their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Argus raised shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Telsey Advisory Group reissued a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a research note on Thursday, October 31st. UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and increased their price objective for the company from $13.00 to $20.00 in a research report on Friday, July 19th. Finally, BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Wolverine World Wide Stock Up 3.7 %

WWW stock opened at $16.06 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. The firm has a 50-day moving average of $15.65 and a two-hundred day moving average of $13.93. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -15.15 and a beta of 1.78. Wolverine World Wide has a 12 month low of $7.58 and a 12 month high of $18.51.

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

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is -37.74%.

Insider Buying and Selling at Wolverine World Wide

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the transaction, the insider now owns 13,889 shares of the company’s stock, valued at approximately $236,390.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Wolverine World Wide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC purchased a new position in shares of Wolverine World Wide in the 3rd quarter valued at $35,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Wolverine World Wide in the 3rd quarter valued at about $70,000. GAMMA Investing LLC grew its position in shares of Wolverine World Wide by 15.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock worth $78,000 after acquiring an additional 616 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Wolverine World Wide during the second quarter worth $68,000. Finally, Central Pacific Bank Trust Division bought a new position in Wolverine World Wide in the first quarter worth about $81,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.