Wolverine World Wide (NYSE:WWW) Releases FY 2021 Earnings Guidance

Wolverine World Wide (NYSE:WWW) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $- for the period. The company issued revenue guidance of $2.24 billion-2.30 billion, compared to the consensus revenue estimate of $2.28 billion.

Several analysts have recently commented on WWW shares. Pivotal Research reiterated a buy rating on shares of Wolverine World Wide in a research report on Friday, May 7th. Telsey Advisory Group increased their price target on shares of Wolverine World Wide from $35.00 to $45.00 and gave the stock a market perform rating in a research note on Thursday, May 6th. TheStreet raised shares of Wolverine World Wide from a c rating to a b- rating in a research report on Wednesday, May 12th. B. Riley raised their price target on shares of Wolverine World Wide from $39.00 to $45.00 and gave the company a buy rating in a report on Wednesday, March 24th. Finally, Robert W. Baird raised their price objective on shares of Wolverine World Wide from $42.00 to $45.00 and gave the stock an outperform rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Wolverine World Wide presently has a consensus rating of Buy and a consensus target price of $37.00.

Wolverine World Wide stock traded up $0.22 during trading hours on Thursday, hitting $36.30. 633,935 shares of the company traded hands, compared to its average volume of 472,482. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -25.93 and a beta of 1.84. The company has a current ratio of 2.10, a quick ratio of 1.46 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average price is $38.83. Wolverine World Wide has a 1-year low of $20.58 and a 1-year high of $44.74.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, May 12th. The textile maker reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The firm had revenue of $510.70 million for the quarter, compared to analysts’ expectations of $508.32 million. Wolverine World Wide had a negative net margin of 6.01% and a positive return on equity of 12.78%. Wolverine World Wide’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS. Analysts anticipate that Wolverine World Wide will post 2.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Thursday, July 1st will be paid a $0.10 dividend. The ex-dividend date is Wednesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.10%. Wolverine World Wide’s dividend payout ratio is currently 43.01%.

In other news, Director William K. Gerber sold 3,000 shares of Wolverine World Wide stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $38.34, for a total value of $115,020.00. Following the transaction, the director now directly owns 15,785 shares of the company’s stock, valued at $605,196.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Amy M. Klimek sold 1,463 shares of Wolverine World Wide stock in a transaction that occurred on Tuesday, April 20th. The stock was sold at an average price of $38.54, for a total transaction of $56,384.02. Following the completion of the transaction, the vice president now directly owns 31,458 shares in the company, valued at $1,212,391.32. The disclosure for this sale can be found here. Insiders sold a total of 36,907 shares of company stock worth $1,425,529 in the last ninety days. Corporate insiders own 4.73% 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. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.

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

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