Brokers Set Expectations for Wolverine World Wide, Inc.’s FY2024 Earnings (NYSE:WWW)

Wolverine World Wide, Inc. (NYSE:WWW) – Research analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for Wolverine World Wide in a report issued on Monday, May 6th. Seaport Res Ptn analyst M. Kummetz now expects that the textile maker will earn $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.

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

Wolverine World Wide Price Performance

Wolverine World Wide stock opened at $13.38 on Thursday. 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 firm’s 50-day simple moving average is $10.32 and its 200 day simple moving average is $9.30. Wolverine World Wide has a 52 week low of $7.21 and a 52 week high of $17.85. The firm has a market capitalization of $1.07 billion, a PE ratio of -26.23 and a beta of 1.73.

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

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be paid a $0.10 dividend. The ex-dividend date 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%.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently modified their holdings of WWW. Strs Ohio bought a new position in Wolverine World Wide during the third quarter worth about $585,000. Nisa Investment Advisors LLC grew its holdings in Wolverine World Wide by 11.1% during the third quarter. Nisa Investment Advisors LLC now owns 48,730 shares of the textile maker’s stock valued at $393,000 after purchasing an additional 4,880 shares during the period. Jump Financial LLC grew its holdings in Wolverine World Wide by 30.0% during the third quarter. Jump Financial LLC now owns 32,441 shares of the textile maker’s stock valued at $261,000 after purchasing an additional 7,483 shares during the period. Fox Run Management L.L.C. bought a new stake in Wolverine World Wide in the third quarter valued at approximately $164,000. Finally, Swiss National Bank grew its holdings in shares of Wolverine World Wide by 1.0% in the 3rd quarter. Swiss National Bank now owns 174,600 shares of the textile maker’s stock valued at $1,407,000 after buying an additional 1,700 shares during the period. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

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.