Wolverine World Wide, Inc. (NYSE:WWW)’s share price gapped up before the market opened on Thursday after Citigroup raised their price target on the stock from $32.00 to $33.00. The stock had previously closed at $31.05, but opened at $30.68. Citigroup currently has a neutral rating on the stock. Wolverine World Wide shares last traded at $30.68, with a volume of 2084178 shares trading hands.
Several other equities analysts have also weighed in on WWW. Piper Jaffray Companies reaffirmed a “hold” rating and set a $25.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, November 1st. Pivotal Research raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the company from $32.00 to $33.00 in a research report on Wednesday, November 8th. Telsey Advisory Group raised their price objective on shares of Wolverine World Wide from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Thursday, November 9th. Buckingham Research raised their price objective on shares of Wolverine World Wide from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. Finally, TheStreet lowered shares of Wolverine World Wide from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.88.
In other news, Director Joseph R. Gromek sold 18,928 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $29.14, for a total value of $551,561.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.65% of the company’s stock.
The firm has a market cap of $2,940.00, a P/E ratio of -3,068.00, a PEG ratio of 1.21 and a beta of 0.93. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.09 and a quick ratio of 2.06.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, February 21st. The textile maker reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. The business had revenue of $578.60 million for the quarter, compared to the consensus estimate of $579.87 million. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. Wolverine World Wide’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. research analysts forecast that Wolverine World Wide, Inc. will post 1.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Monday, April 2nd will be paid a $0.08 dividend. This is an increase from Wolverine World Wide’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $0.32 annualized dividend and a dividend yield of 1.04%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -2,400.00%.
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Wolverine World Wide Company Profile
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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