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

Wolverine World Wide (NYSE:WWW) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.800-0.900 for the period, compared to the consensus earnings per share 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 Trading Up 3.7 %

NYSE WWW opened at $16.06 on Thursday. The company has a market cap of $1.28 billion, a P/E ratio of -15.15 and a beta of 1.78. Wolverine World Wide has a 12 month low of $7.58 and a 12 month high of $18.51. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74. The company has a 50-day moving average of $15.65 and a 200-day moving average of $13.93.

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. The firm had revenue of $425.40 million during the quarter, compared to analyst estimates of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. Wolverine World Wide’s revenue for the quarter was down 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. As a group, equities analysts predict that Wolverine World Wide will post 0.85 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Argus raised Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Thursday, August 8th. Robert W. Baird lifted their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $20.00 in a research note on Friday, July 19th. Finally, Piper Sandler reissued an “overweight” rating and issued a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Wolverine World Wide has an average rating of “Moderate Buy” and an average target price of $18.00.

Insider Transactions at Wolverine World Wide

In related news, insider David A. Latchana sold 7,706 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the sale, the insider now directly owns 13,889 shares of the company’s stock, valued at $236,390.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.