Wolverine World Wide
(WWW - Get Report)
is a designer, manufacturer and marketer of a range of casual shoes, performance outdoor footwear and apparel, industrial work shoes, boots and apparel, and uniform shoes and boots. The company will announce its third-quarter results on Oct. 3.
Net income is estimated to come in at $36.76 million on sales of $358.2 million, as compared to a net income of $34.14 million recorded on sales of $320.4 million sales for the same period in 2010, as per analysts polled by
. Earnings per share are forecast at 75 cents for the quarter, compared to 70 cents in the prior-year period. Return on equity is estimated to increase by 7% to 20.90% from 19.48% earlier.
In mid-July, the company declared a quarterly cash dividend of 12 cents per common share which is payable on November 1, 2011. Currently, the company has a dividend yield of 1.3%.
Of the 13 analysts covering the stock, 38% recommend a buy, while the remaining rate a hold. There are no sell ratings on the stock. Analysts polled by
expect the stock to gain an average 24.3% to $43.75 from current levels over the next 12 months.