Wolverine World Wide (WWW) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $0.25 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.23. The company posted revenue of $583.70 million in the period, compared to analysts expectations of $579.25 million. The company’s revenue was down -7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
Many Wall Street Analysts have commented on Wolverine World Wide. Wolverine World Wide was Upgraded by Susquehanna to ” Positive” on Jul 7, 2016. Company shares were Reiterated by Telsey Advisory Group on May 4, 2016 to “Market Perform”, Firm has raised the Price Target to $ 20 from a previous price target of $19 .
Wolverine World Wide opened for trading at $23.12 and hit $23.44 on the upside on Wednesday, eventually ending the session at $23, with a gain of 0.26% or 0.06 points. The heightened volatility saw the trading volume jump to 11,31,666 shares. Company has a market cap of $2,290 M.
Investors should note that on Jul 14, 2016, Wolverine World Wide announced a cash dividend of $0.0600. The company’s management has announced Sep 29, 2016 as the ex-dividend date and fixed the record date on Oct 3, 2016. The payable date has been fixed on Nov 1, 2016.
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 childrens 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 Companys multi-brand consumer-direct business leather marketing operations and sourcing operations that include third-party commission revenues.