Wolverine World Wide Inc reports results for the quarter ended June 30 - Earnings Summary

• Wolverine World Wide Inc WWW reported quarterly adjusted earnings of 35 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 15 cents. The mean expectation of eight analysts for the quarter was for earnings of 23 cents per share. Wall Street expected results to range from 20 cents to 27 cents per share.

• Revenue rose 11.5% to $474.20 million from a year ago; analysts expected $451.25 million.

• Wolverine World Wide Inc's reported EPS for the quarter was 32 cents​.

• The company reported quarterly net income of $26.8 million.

• Wolverine World Wide Inc shares had risen by 30.0% this quarter and gained 5.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 2.2% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the footwear peer group is "hold."

• Wall Street's median 12-month price target for Wolverine World Wide Inc is $25.00, about 6% above its last closing price of $23.50

This summary was machine generated from LSEG data August 6 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)