Wolverine World Wide, Inc. (WWW) to Issue Quarterly Dividend of $0.10 on May 1st

Wolverine World Wide, Inc. (NYSE:WWW) declared a quarterly dividend on Wednesday, February 5th, RTT News reports. Investors of record on Tuesday, April 1st will be paid a dividend of 0.10 per share by the textile maker on Thursday, May 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Tuesday, April 1st.

Wolverine World Wide has a dividend payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Wolverine World Wide to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 25.2%.

Wolverine World Wide Stock Down 2.9 %

WWW opened at $13.75 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The company has a market capitalization of $1.11 billion, a P/E ratio of 25.00 and a beta of 1.93. Wolverine World Wide has a fifty-two week low of $9.07 and a fifty-two week high of $24.64. The stock has a fifty day moving average of $17.44 and a 200-day moving average of $18.98.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $485.74 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. Wolverine World Wide’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.30) earnings per share. On average, equities analysts expect that Wolverine World Wide will post 1.23 EPS for the current year.

Analyst Upgrades and Downgrades

WWW has been the topic of a number of recent research reports. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price target for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. Robert W. Baird lowered their price objective on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. UBS Group dropped their price target on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $23.00 price objective on shares of Wolverine World Wide in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

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.