$627.11 million in expected sales for Wolverine World Wide, Inc. (NYSE:WWW) this quarter

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Wall Street brokers expect Wolverine World Wide, Inc. (NYSE:WWW) to post sales of $627.11 million for the current quarter, according to Zacks Investment Research. Six analysts have made earnings estimates for Wolverine World Wide, with the highest sales estimate standing at $637.70 million and the lowest estimate at $620.70 million. Wolverine World Wide reported sales of $509.60 million in the same quarter last year, suggesting a positive year-over-year growth rate of 23.1%. The company is expected to release its next quarterly results on Thursday, February 24.

According to Zacks, analysts expect Wolverine World Wide to record annual sales of $2.41 billion for the current year, with estimates ranging from $2.40 billion to $2.42 billion. For next year, analysts expect the company to post sales of $2.83 billion, with estimates ranging from $2.80 billion to $2.85 billion. Zacks Investment Research’s sales calculations are an average average based on a survey of sell-side research firms that cover Wolverine World Wide.

Wolverine World Wide (NYSE:WWW) last released quarterly earnings data on Wednesday, November 10. The textile maker reported earnings per share (EPS) of $0.62 for the quarter, beating the consensus estimate of $0.60 by $0.02. The company posted revenue of $636.70 million for the quarter, versus analyst estimates of $654.14 million. Wolverine World Wide recorded a negative net margin of 3.85% and a positive return on equity of 25.38%. During the same period of the previous year, the company achieved EPS of $0.35.

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WWW has been the subject of several research reports. Robert W. Baird downgraded Wolverine World Wide from an “outperforming” rating to a “neutral” rating and lowered his target price for the company from $45.00 to $33.00 in a Tuesday, January 4 research report . Zacks Investment Research downgraded Wolverine World Wide from a “sell” rating to a “buy” rating and set a target price of $28.00 for the company in a Thursday, January 13 research report. Seaport Res Ptn reaffirmed a “neutral” rating on Wolverine World Wide shares in a Tuesday, January 18 research report. Finally, B. Riley lowered his target price on Wolverine World Wide from $43.00 to $37.00 in a Wednesday, January 26 research report. Three investment analysts gave the stock a hold rating and six gave the company a buy rating. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $40.13.

Shares of WWW opened at $26.53 on Thursday. The company has a market capitalization of $2.19 billion, a P/E ratio of -23.69, a price-to-earnings growth ratio of 1.02 and a beta of 1.82. Wolverine World Wide has a 12-month low of $24.71 and a 12-month high of $44.74. The company’s 50-day moving average price is $28.62 and its 200-day moving average price is $32.03. The company has a current ratio of 1.18, a quick ratio of 0.69 and a debt ratio of 1.10.

Separately, Vice President Amy M. Klimek sold 3,000 shares of the company in a trade that took place on Wednesday, November 17. The stock was sold at an average price of $34.04, for a total transaction of $102,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Additionally, CEO Blake W. Krueger sold 709 shares of the company in a trade that took place on Tuesday, November 9. The stock was sold at an average price of $38.01, for a total value of $26,949.09. Disclosure of this sale can be found here. Last quarter, insiders sold 31,078 shares of the company valued at $1,072,304. 4.73% of the shares are held by insiders of the company.

A number of hedge funds have recently changed their positions in the stock. Profund Advisors LLC increased its holdings in Wolverine World Wide by 5.4% in the second quarter. Profund Advisors LLC now owns 10,387 shares of the textile maker valued at $350,000 after buying 533 additional shares in the last quarter. Chiron Investment Management LLC acquired a new stake in Wolverine World Wide in the third quarter worth $579,000. Cubist Systematic Strategies LLC increased its holdings in Wolverine World Wide by 181.0% in the second quarter. Cubist Systematic Strategies LLC now owns 158,587 shares of the textile maker valued at $5,335,000 after buying an additional 102,159 shares in the last quarter. M&G Investment Management Ltd. acquired a new stake in Wolverine World Wide in the second quarter worth $6,389,000. Finally, Kestra Private Wealth Services LLC increased its holdings in Wolverine World Wide by 210.0% in the third quarter. Kestra Private Wealth Services LLC now owns 18,600 shares of the textile maker valued at $555,000 after buying an additional 12,600 shares in the last quarter. 95.45% of the shares are currently held by hedge funds and other institutional investors.

About Wolverine Worldwide

Wolverine World Wide, Inc. is engaged in the design, manufacture and sale of casual, active lifestyle, work, outdoor sports, athletic, children’s and uniform footwear and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group includes Merrell Footwear and Apparel, Cat Footwear, Wolverine Footwear and Apparel, Chaco Footwear, Hush Puppies Footwear and Apparel, Bates Uniform Footwear, Harley-Davidson Footwear and Hytest Safety Footwear.

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Earnings history and estimates for Wolverine World Wide (NYSE:WWW)

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