Brokers Set Expectations for Wolverine World Wide, Inc.’s Q2 2024 Earnings (NYSE:WWW)

Wolverine World Wide, Inc. (NYSE:WWW) – Equities researchers at Seaport Res Ptn dropped their Q2 2024 earnings per share (EPS) estimates for Wolverine World Wide in a research report issued to clients and investors on Monday, May 6th. Seaport Res Ptn analyst M. Kummetz now anticipates that the textile maker will post earnings of $0.29 per share for the quarter, down from their prior forecast of $0.37. Seaport Res Ptn currently 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 Q3 2024 earnings at $0.36 EPS.

Separately, Telsey Advisory Group restated a “market perform” rating and set a $10.00 target price on shares of Wolverine World Wide in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.63.

Wolverine World Wide Trading Up 11.5 %

Shares of WWW stock opened at $12.73 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 1.18 and a debt-to-equity ratio of 2.02. Wolverine World Wide has a fifty-two week low of $7.21 and a fifty-two week high of $17.85. The firm’s 50 day moving average price is $10.26 and its two-hundred day moving average price is $9.27. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -24.96 and a beta of 1.73.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WWW. Texas Permanent School Fund Corp increased its holdings in Wolverine World Wide by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock worth $775,000 after purchasing an additional 946 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Wolverine World Wide by 7.5% in the first quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock worth $176,000 after buying an additional 1,090 shares during the last quarter. GAMMA Investing LLC raised its holdings in Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after acquiring an additional 1,343 shares in the last quarter. Swiss National Bank boosted its stake in Wolverine World Wide by 1.0% during the 3rd quarter. Swiss National Bank now owns 174,600 shares of the textile maker’s stock valued at $1,407,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Wolverine World Wide by 15.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,873 shares of the textile maker’s stock worth $159,000 after acquiring an additional 2,390 shares in the last quarter. 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. Investors of record on Monday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Monday, July 1st. Wolverine World Wide’s dividend payout ratio (DPR) is -78.43%.

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.