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Wolverine World Wide Inc. (WWW - Snapshot Report) is slated to report its first-quarter 2013 results before the market opens on Apr 16. In the last quarter, it posted a positive surprise of 200%. Let’s see how things are shaping up for this announcement.

Growth Factors this Past Quarter

Strong performance of the legacy WWW and Performance + Lifestyle Group (PLG) businesses facilitated Wolverine to post robust fourth-quarter 2012 earnings results. The company’s strong brand portfolio and continued product innovation augurs well for its future operating performance. We also remain optimistic about its ability to augment its key potential businesses, including Merrell, Wolverine/Caterpillar boots and its direct-to-consumer channel.

Earnings Whispers?

Our proven model does not conclusively show that Wolverine is likely to beat earnings this quarter. This is because a stock needs to have both a positive Earnings ESP (Read: Zacks Earnings ESP: A Better Method) and a Zacks Rank #1, #2 or #3 for this to happen. This is not the case here as you will see below.

Zacks ESP: ESP for Wolverine is -1.85%. This is because the Most Accurate Estimate stands at 53 cents, while the Zacks Consensus Estimate is pegged at 54 cents.

Zacks Rank #3 (Hold): Wolverine’s Zacks Rank #3 (Hold) lowers the predictive power of ESP because the Zacks Rank #3 when combined with a negative ESP makes surprise prediction difficult. We caution against stocks with Zacks Ranks #4 and #5 (Sell rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions momentum.

Other Stocks to Consider

Here are some other companies you may want to consider as our model shows they have the right combination of elements to post an earnings beat this quarter:

Conn’s, Inc. (CONN - Snapshot Report), Earnings ESP of +3.85% and a Zacks Rank #1 (Strong Buy).

Kraft Foods Group, Inc. (KRFT - Analyst Report), Earnings ESP of +3.13% and a Zacks Rank #2 (Buy). Inc. (AMZN - Analyst Report), Earnings ESP of +190.00% and a Zacks Rank #3 (Hold).

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