Analysts on Wall Street project that Wolverine World Wide (WWW) will announce quarterly earnings of $0.11 per share in its forthcoming report, representing an increase of 120% year over year. Revenues are projected to reach $395.35 million, increasing 0.1% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone a downward revision of 9.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Wolverine metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Revenue- Active Group' at $298.16 million. The estimate indicates a change of +2.9% from the prior-year quarter.
The consensus among analysts is that 'Revenue- Other' will reach $13.10 million. The estimate indicates a change of -12.7% from the prior-year quarter.
Analysts expect 'Revenue- Work Group' to come in at $84.09 million. The estimate indicates a year-over-year change of -6.7%.
View all Key Company Metrics for Wolverine here>>>
Wolverine shares have witnessed a change of +27.8% in the past month, in contrast to the Zacks S&P 500 composite's +11.5% move. With a Zacks Rank #4 (Sell), WWW is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Wolverine World Wide, Inc. (WWW): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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