Wolverine World Wide (NYSE:WWW) Updates FY 2024 Earnings Guidance

Wolverine World Wide (NYSE:WWW) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.800-0.900 for the period, compared to the consensus estimate of 0.840. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion.

Wolverine World Wide Stock Up 3.7 %

WWW opened at $16.06 on Thursday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19. The company has a market capitalization of $1.28 billion, a PE ratio of -15.15 and a beta of 1.78. The stock’s fifty day moving average is $15.65 and its 200-day moving average is $13.93. Wolverine World Wide has a one year low of $7.58 and a one year high of $18.51.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The firm had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $411.20 million. During the same period in the previous year, the business earned $0.19 earnings per share. Wolverine World Wide’s revenue for the quarter was down 27.8% compared to the same quarter last year. On average, equities analysts predict that Wolverine World Wide will post 0.85 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.49%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio is presently -37.74%.

Analysts Set New Price Targets

WWW has been the subject of a number of recent research reports. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Thursday, October 3rd. Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 price target on shares of Wolverine World Wide in a research note on Thursday, October 31st. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Piper Sandler restated an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a report on Friday, August 23rd. Finally, Robert W. Baird raised their price objective on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Insider Activity at Wolverine World Wide

In other news, insider David A. Latchana sold 7,706 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the sale, the insider now directly owns 13,889 shares of the company’s stock, valued at $236,390.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.28% 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.