Wolverine World Wide, Inc. to Post Q4 2023 Earnings of ($0.27) Per Share, KeyCorp Forecasts (NYSE:WWW)

Wolverine World Wide, Inc. (NYSE:WWWFree Report) – Analysts at KeyCorp issued their Q4 2023 earnings estimates for Wolverine World Wide in a research report issued to clients and investors on Tuesday, February 6th. KeyCorp analyst A. Owens expects that the textile maker will earn ($0.27) per share for the quarter. The consensus estimate for Wolverine World Wide’s current full-year earnings is $0.08 per share.

Several other research analysts have also recently weighed in on WWW. Piper Sandler cut their price objective on Wolverine World Wide from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. TheStreet lowered Wolverine World Wide from a “c-” rating to a “d” rating in a report on Thursday, November 9th. Williams Trading reiterated a “sell” rating and set a $7.00 price target on shares of Wolverine World Wide in a research note on Friday, November 10th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $10.00 target price on shares of Wolverine World Wide in a research report on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.63.

Get Our Latest Analysis on Wolverine World Wide

Wolverine World Wide Stock Performance

Shares of NYSE:WWW opened at $8.62 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 1.97. The business’s 50 day moving average is $8.79 and its 200 day moving average is $8.81. Wolverine World Wide has a 12-month low of $7.21 and a 12-month high of $17.85.

Wolverine World Wide (NYSE:WWWGet Free Report) last posted its earnings results on Thursday, November 9th. The textile maker reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Wolverine World Wide had a negative net margin of 13.02% and a positive return on equity of 4.77%. The company had revenue of $527.70 million during the quarter, compared to the consensus estimate of $514.15 million. During the same period in the previous year, the firm posted $0.48 earnings per share. The firm’s revenue for the quarter was down 23.7% on a year-over-year basis.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new position in shares of Wolverine World Wide in the 4th quarter worth $26,000. Quarry LP purchased a new position in Wolverine World Wide in the second quarter worth $43,000. Tower Research Capital LLC TRC increased its stake in Wolverine World Wide by 126.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,969 shares of the textile maker’s stock valued at $44,000 after acquiring an additional 1,657 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in Wolverine World Wide during the third quarter worth about $93,000. Finally, UBS Group AG boosted its holdings in shares of Wolverine World Wide by 114.9% in the 3rd quarter. UBS Group AG now owns 6,315 shares of the textile maker’s stock worth $97,000 after purchasing an additional 3,376 shares in the last quarter. 93.66% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.64%. The ex-dividend date is Thursday, March 28th. Wolverine World Wide’s dividend payout ratio is -10.13%.

About Wolverine World Wide

(Get Free Report)

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, Work Group, Lifestyle 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.

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

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