Q3 2024 Earnings Forecast for Wolverine World Wide, Inc. (NYSE:WWW) Issued By Seaport Res Ptn

Wolverine World Wide, Inc. (NYSE:WWW) – Research analysts at Seaport Res Ptn raised their Q3 2024 earnings estimates for shares of Wolverine World Wide in a research report issued on Wednesday, May 8th. Seaport Res Ptn analyst M. Kummetz now anticipates that the textile maker will post earnings of $0.43 per share for the quarter, up from their previous forecast of $0.36. 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 FY2026 earnings at $1.79 EPS.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share (EPS) 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 firm had revenue of $526.70 million for the quarter, compared to analyst estimates of $520.12 million. During the same period last year, the firm earned ($0.15) earnings per share. Wolverine World Wide’s revenue for the quarter was down 20.8% compared to the same quarter last year.

A number of other equities analysts also recently weighed in on the stock. UBS Group upped their price target on shares of Wolverine World Wide from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday. Telsey Advisory Group reiterated a “market perform” rating and issued a $10.00 price objective on shares of Wolverine World Wide in a report on Wednesday. Robert W. Baird upped their price objective on shares of Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Williams Trading upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $16.00 in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Wolverine World Wide has a consensus rating of “Hold” and a consensus price target of $11.67.

Wolverine World Wide Trading Up 5.0 %

NYSE WWW opened at $13.38 on Friday. Wolverine World Wide has a 1-year low of $7.21 and a 1-year high of $17.85. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $1.07 billion, a PE ratio of -26.23 and a beta of 1.73. The firm’s fifty day simple moving average is $10.32 and its 200-day simple moving average is $9.30.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Wolverine World Wide by 1.2% during the third quarter. Vanguard Group Inc. now owns 9,282,319 shares of the textile maker’s stock valued at $74,815,000 after buying an additional 109,833 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Wolverine World Wide by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock worth $15,753,000 after purchasing an additional 103,368 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Wolverine World Wide by 2.1% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,542,637 shares of the textile maker’s stock worth $12,434,000 after purchasing an additional 32,100 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Wolverine World Wide by 13.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,446,579 shares of the textile maker’s stock worth $11,659,000 after purchasing an additional 175,039 shares in the last quarter. Finally, Callodine Capital Management LP acquired a new position in Wolverine World Wide in the third quarter worth about $8,060,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Announces Dividend

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

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.