HOME ZACKS RESEARCH FUNDS PORTFOLIO BROKER RESEARCH MARKETS SCREENING VIDEO EDUCATION SERVICES
Quote:
Login Free Membership
Search:

Growth & Income

Wolverine World Wide

Share
By: Alex Kolb
October 29, 2009 |Comments: 0
Recommended this article (0)
WWW
Wolverine World Wide Inc. (WWW) recently posted third-quarter earnings of 62 cents per share, eclipsing the Zacks Consensus Estimate by 11%. The company hiked its full-year earnings guidance, and analysts followed suit, lifting the Zacks Consensus Estimate to $1.74 per share from last month’s $1.68. Shares spiked on the strong quarter, currently trading near a 52-week high.

Company Description

Wolverine World Wide markets branded casual, active lifestyle, work, outdoor sport and uniform footwear and apparel. The company offers well-known brands like Bates®, Chaco®, Cushe(TM), Hush Puppies®, HYTEST®, Merrell®, Sebago® Soft Style® and Wolverine®. Wolverine is also the exclusive footwear licensee of popular brands, including CAT®, Harley-Davidson® and Patagonia®. The company's products are sold retailers in the U.S. and globally in 180 countries and territories.

Stellar Quarterly Results and Bullish Forecasts

Wolverine World Wide recently posted third-quarter earnings of 62 cents per share, eclipsing the Zacks Consensus Estimate by 11%. During the past 4 straight quarters, the company delivered an average upside earnings of 15%.

Revenue was down 6.9% year-over-year.

"We are very pleased with our third quarter results, as the Company continues to deliver excellent earnings performance in the most challenging economic environment that many of us have ever experienced," stated Blake W. Krueger, the Company's CEO and President. "We remain confident that our multi-brand, multi-country business model and our execution against that model can deliver exceptional results in a variety of economic climates."

The company hiked its full-year earnings guidance to a range of $1.65 to $1.75 per share from its previous range of $1.55 to $1.73.

Analysts followed suit, lifting the 2009 Zacks Consensus Estimate to $1.74 per share from last month’s $1.68. For the following year, analysts polled by Zacks are calling for earnings of $1.95 per share, versus last month's $1.87.

Shares spiked on the strong third quarter, currently trading near a 52-week high.

Strong Fundamentals

Wolverine World Wide boasts a solid balance sheet, showing no debt. The company's return on equity (ROE) of 20% nearly doubles the industry average of 11%. Its net profit margin of 6% doubles the industry average of 3%. The Growth and Income pick pays a dividend yield of 2%.

Read the full analyst report on WWW

 
Attn. Zacks.com Visitors
Sell These Stocks Today
Make sure no Zacks #5 Rank "Strong Sell" stocks are lurking in your portfolio. They tend to perform only 1/6th as well as the market!
Get your free Welcome Gifts today*:
 1.  Zacks "Strong Sell" list.
 2.  Our e-newsletter with 4 "Strong Buy" stocks, Bull & Bear of the Day, and market commentary in every issue.
Get them free right now
  
No cost. Unsubscribe anytime. Privacy Policy
*Only for non-members. May end at any time.

More Zacks Resources

Market Summary Feb 09, 2012 06:39 am ET
DJIA 12883.95  5.75 0.04%
NASD 2915.86  0.00 0.00%
S&P 500 1349.96  2.91 0.22%
Partner Center