FY2024 EPS Estimates for WWW Raised by Telsey Advisory Group

Wolverine World Wide, Inc. (NYSE:WWW) – Equities researchers at Telsey Advisory Group boosted their FY2024 earnings per share (EPS) estimates for Wolverine World Wide in a research report issued on Friday, November 8th. Telsey Advisory Group analyst D. Telsey now expects that the textile maker will post earnings of $0.90 per share for the year, up from their previous forecast of $0.85. Telsey Advisory Group has a “Market Perform” rating and a $15.00 price target on the stock. The consensus estimate for Wolverine World Wide’s current full-year earnings is $0.89 per share. Telsey Advisory Group also issued estimates for Wolverine World Wide’s Q4 2024 earnings at $0.41 EPS, Q1 2025 earnings at $0.30 EPS, Q2 2025 earnings at $0.29 EPS, Q3 2025 earnings at $0.31 EPS, Q4 2025 earnings at $0.41 EPS and FY2025 earnings at $1.31 EPS.

Other equities analysts have also recently issued reports about the company. Robert W. Baird upped their price objective on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Argus upgraded Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. UBS Group upgraded 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 report on Friday, July 19th. 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 report on Thursday, October 3rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a report on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Wolverine World Wide Price Performance

Wolverine World Wide stock opened at $22.31 on Monday. The business has a 50-day simple moving average of $15.98 and a 200 day simple moving average of $14.12. Wolverine World Wide has a 52 week low of $7.58 and a 52 week high of $22.60. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -24.76 and a beta of 1.78.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Manning & Napier Advisors LLC bought a new position in Wolverine World Wide during the 2nd quarter valued at approximately $7,098,000. Federated Hermes Inc. raised its position in Wolverine World Wide by 10,607.4% during the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after purchasing an additional 535,355 shares during the last quarter. SG Americas Securities LLC bought a new position in Wolverine World Wide during the 2nd quarter valued at approximately $548,000. Panagora Asset Management Inc. bought a new position in Wolverine World Wide during the 2nd quarter valued at approximately $3,979,000. Finally, BNP Paribas Financial Markets raised its position in Wolverine World Wide by 52.8% during the 1st quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock valued at $731,000 after purchasing an additional 22,532 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Insider Activity

In other news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total value of $131,156.12. Following the completion of the sale, the insider now owns 13,889 shares of the company’s stock, valued at approximately $236,390.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.28% of the stock is currently owned by corporate insiders.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is presently -44.94%.

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.