Wolverine World Wide (WWW) to Release Quarterly Earnings on Wednesday

Wolverine World Wide (NYSE:WWW) will announce its earnings results before the market opens on Wednesday, August 7th. Analysts expect the company to announce earnings of $0.10 per share for the quarter. Wolverine World Wide has set its FY24 guidance at $0.65 to $0.85 EPS and its FY 2024 guidance at 0.650-0.850 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, May 8th. The textile maker reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $394.90 million during the quarter, compared to analysts’ expectations of $360.31 million. Wolverine World Wide had a negative net margin of 3.59% and a positive return on equity of 0.53%. On average, analysts expect Wolverine World Wide to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Wolverine World Wide Price Performance

WWW stock opened at $14.51 on Wednesday. The company has a 50 day simple moving average of $13.37 and a 200 day simple moving average of $11.24. Wolverine World Wide has a 1 year low of $7.21 and a 1 year high of $14.97. The company has a current ratio of 1.13, a quick ratio of 0.65 and a debt-to-equity ratio of 2.24.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. Seaport Res Ptn upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research report on Monday, May 6th. 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 research report on Thursday, May 9th. Williams Trading upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price target for the company from $11.00 to $16.00 in a research report on Thursday, May 9th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $10.00 price target on shares of Wolverine World Wide in a research report on Wednesday, May 8th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.44.

Insider Activity

In other news, insider Isabel Soriano sold 3,201 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total value of $44,461.89. Following the sale, the insider now directly owns 26,519 shares of the company’s stock, valued at approximately $368,348.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.28% 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. 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.