Wolverine Worldwide Eyes 3.7% Q4 Revenue Growth, Analysts Set $21.33 Price Target
Wolverine Worldwide is forecast to report Q4 revenue growth of 3.7% year-over-year, following last quarter’s $470.3 million sales, a 6.9% increase that beat EBITDA expectations. Analysts have maintained Q4 revenue estimates and assign an average price target of $21.33, while peer Deckers posted 7.1% revenue growth.
1. Q4 Revenue Expectations
Wolverine Worldwide will release Q4 results Thursday before the bell, with revenue projected to rise 3.7% year-over-year, mirroring last year’s Q4 growth. Last quarter the company reported $470.3 million in sales, up 6.9% and above EBITDA expectations.
2. Analyst Consensus and Price Target
Analysts have kept revenue estimates steady over the past month and maintain an average price target of $21.33 versus a current share price of $17.59. The company has a track record of meeting consensus revenue estimates.
3. Peer Performance
In the consumer discretionary sector peer Deckers delivered 7.1% year-on-year revenue growth, topping estimates by 4.7% and seeing its share price jump 19.5%, while Crocs posted a 3.2% revenue decline but exceeded forecasts by 4.3%.