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

Wolverine World Wide (NYSE:WWW) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.650-0.850 for the period, compared to the consensus EPS estimate of 0.750. 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 also updated its FY24 guidance to $0.65 to $0.85 EPS.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WWW shares. Seaport Res Ptn upgraded Wolverine World Wide from a neutral rating to a buy rating in a report on Monday. Telsey Advisory Group reaffirmed a market perform rating and set a $10.00 price objective on shares of Wolverine World Wide in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $10.63.

Wolverine World Wide Stock Up 12.3 %

Shares of Wolverine World Wide stock traded up $1.41 during trading on Wednesday, reaching $12.83. The company’s stock had a trading volume of 1,370,636 shares, compared to its average volume of 880,624. Wolverine World Wide has a 1-year low of $7.21 and a 1-year high of $17.85. The company has a 50-day simple moving average of $10.20 and a two-hundred day simple moving average of $9.24. The company has a quick ratio of 0.75, a current ratio of 1.18 and a debt-to-equity ratio of 2.02. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -24.88 and a beta of 1.73.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $526.70 million during the quarter, compared to analyst estimates of $520.12 million. During the same period in the prior year, the business posted ($0.15) EPS. Wolverine World Wide’s revenue was down 20.8% compared to the same quarter last year. As a group, equities analysts forecast that Wolverine World Wide will post 0.77 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.12%. Wolverine World Wide’s payout ratio is -78.43%.

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.