Wolverine World Wide (WWW) is Downgraded by Sterne Agee CRT to Underperform

Wolverine World Wide (WWW) was Downgraded by Sterne Agee CRT to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Sterne Agee CRT advised their investors in a research report released on Apr 27, 2016.

On the company’s financial health, Wolverine World Wide reported $0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Feb 23, 2016. Analyst had a consensus of $0.28. The company had revenue of $751.20 million for the quarter, compared to analysts expectations of $751.35 million. The company’s revenue was down -7.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

Wolverine World Wide opened for trading at $19.31 and hit $19.86 on the upside on Friday, eventually ending the session at $19.4, with a gain of 0.78% or 0.15 points. The heightened volatility saw the trading volume jump to 10,54,087 shares. Company has a market cap of $1,938 M.

In a different news, on Nov 2, 2015, Jeffrey M Boromisa (director) purchased 2,500 shares at $18.49 per share price. According to the SEC, on Aug 6, 2015, Michael Jeppesen (Pres., Global Operations Group) sold 15,000 shares at $28.43 per share price. On May 12, 2015, Michael A Volkema (director) sold 6,668 shares at $30.70 per share price, according to the Form-4 filing with the securities and exchange commission.

Wolverine World Wide Inc. is a designer manufacturer and marketer of casual footwear and apparel outdoor and athletic footwear and apparel children’s footwear industrial work boots and apparel and uniform shoes and boots. The Company operates in three operating segments: Lifestyle Group consisting of Sperry Top-Sider footwear and apparel Stride Rite footwear and apparel Hush Puppies footwear and apparel Keds footwear and apparel and Soft Style footwear; Performance Group consisting of Merrell footwear and apparel Saucony footwear and apparel Chaco footwear and Cushe footwear and Heritage Group consisting of Wolverine footwear and apparel Cat footwear Bates uniform footwear Sebago footwear and apparel Harley-Davidson footwear and HyTest safety footwear. The Other category consists of the Company’s multi-brand consumer-direct business leather marketing operations and sourcing operations that include third-party commission revenues.

Wolverine World Wide

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