Wolverine World Wide Q2: Waiting For Saucony Momentum To Show
Wolverine World Wide, Inc.'s Q2 results beat Wall Street estimates by a considerable margin, driven by many brands' slightly better performance than expected. Revenues still declined sharply, only in part related to macroeconomic turbulence, with good underlying profitability improvements and a sequential growth improvement showing positive signs. The clear focus on Saucony has improved new products' sell-through, showing good initial momentum in the renewed brand. Saucony is still losing share for now.
Wolverine (WWW) Q2 Earnings Beat Estimates, Revenues Dip Y/Y
Wolverine (WWW) registers y/y declines in the top and bottom lines in Q2. Its ongoing efforts will position it for sustained growth, and deliver a better performance and returns for shareholders.
Wolverine World Wide, Inc. (WWW) Q2 2024 Earnings Call Transcript
Wolverine World Wide, Inc. (NYSE:WWW ) Q2 2024 Earnings Conference Call August 7, 2024 8:30 AM ET Company Participants Alex Wiseman - Vice President-Finance Chris Hufnagel - President and Chief Executive Officer Taryn Miller - Executive Vice President and Chief Financial Officer Conference Call Participants Jim Duffy - Stifel Mauricio Serna - UBS Dana Telsey - Telsey Group Sam Poser - Williams Trading Laurent Vasilescu - BNP Paribas Mitch Kummetz - Seaport Research Ashley Owens - KeyBanc Capital Markets Jonathan Komp - RW Baird Operator Good day, everyone, and welcome to today's Wolverine Worldwide Inc. Second Quarter Fiscal 2024 Earnings Call. At this time, all participants are in a listen-only mode.
Wolverine World Wide (WWW) Q2 Earnings and Revenues Surpass Estimates
Wolverine World Wide (WWW) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.19 per share a year ago.
Why Is Wolverine (WWW) Down 1.9% Since Last Earnings Report?
Wolverine (WWW) reported earnings 30 days ago. What's next for the stock?
Looking for a Fast-paced Momentum Stock at a Bargain? Consider Wolverine (WWW)
Wolverine (WWW) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.
Wolverine World Wide, Inc. (NYSE:WWW) Shares Sold by Natixis Advisors L.P.
Natixis Advisors L.P. reduced its position in Wolverine World Wide, Inc. (NYSE:WWW – Free Report) by 88.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,573 shares of the textile maker’s stock after selling 225,574 shares during the quarter. Natixis Advisors L.P.’s holdings in Wolverine World Wide were worth $271,000 at the end of the most recent reporting period. Several other hedge funds have also recently added to or reduced their stakes in WWW. GAMMA Investing LLC purchased a new position in shares of Wolverine World Wide during the 4th quarter worth $26,000. Sherbrooke Park Advisers LLC acquired a new position in Wolverine World Wide during the third quarter worth approximately $93,000. Aristeia Capital LLC acquired a new position in Wolverine World Wide during the third quarter worth approximately $103,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Wolverine World Wide by 15.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,873 shares of the textile maker’s stock worth $159,000 after buying an additional 2,390 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Wolverine World Wide during the fourth quarter worth approximately $172,000. 90.25% of the stock is owned by institutional investors and hedge funds. Wolverine World Wide Stock Performance NYSE WWW opened at $13.46 on Monday. Wolverine World Wide, Inc. has a fifty-two week low of $7.21 and a fifty-two week high of $16.07. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -14.47 and a beta of 1.73. The business has a fifty day moving average of $10.80 and a 200-day moving average of $9.55. The company has a quick ratio of 0.65, a current ratio of 1.13 and a debt-to-equity ratio of 2.24. Wolverine World Wide (NYSE:WWW – Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). The company had revenue of $526.70 million during the quarter, compared to analyst estimates of $520.12 million. Wolverine World Wide had a positive return on equity of 0.53% and a negative net margin of 3.59%. The business’s revenue was down 20.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) earnings per share. As a group, analysts predict that Wolverine World Wide, Inc. will post 0.8 earnings per share for the current fiscal year. Wolverine World Wide Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Monday, July 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%. Analyst Upgrades and Downgrades Several brokerages have weighed in on WWW. Seaport Res Ptn upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday, May 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $10.00 target price on shares of Wolverine World Wide in a research note on Wednesday, May 8th. Robert W. Baird lifted their target price on Wolverine World Wide from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Williams Trading upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their target price for the company from $11.00 to $16.00 in a research note on Thursday, May 9th. Finally, UBS Group lifted their price target on Wolverine World Wide from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.67. Check Out Our Latest Stock Report on WWW Wolverine World Wide Company Profile (Free Report) 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.
