Wolverine World Wide (WWW) Q4 Beat "Low Quality"

Article Related Press Releases (1) Related Articles (1) Stock Quotes (1) Comments (0)

Goldman Sachs today maintained a Neutral rating on Wolverine World Wide (NYSE: WWW) and trimmed its price target to $40.00 (from $43.00). The company reported Q4 earnings after the bell yesterday, topping views on the bottom line with weak guidance. Analysts believe the earnings were "low quality".

Commenting on the results, analyst Taposh Bari said, "We qualify the beat as low-quality, as a low tax rate and SG&A leverage more than offset a sales and gross margin miss."

"We see 2013 as a transition year as investors digest an increasingly complex business. We look for a combination of (1) lower valuation, (2) legacy gross profit stability, and (3) PLG upside (likely a 2014 event) to become more constructive," concluded the analyst.

For an analyst ratings summary and ratings history on Wolverine World Wide (NYSE: WWW) click here. For more ratings news on Wolverine World Wide click here.

Shares of Wolverine World Wide closed at $45.02 yesterday, with a 52 week range of $34.00-$47.99.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Jefferies Bumps Zumiez (ZUMZ) Numbers Up, But Remains on Sidelines
• Needham & Company Lifts Numbers on Marvell (MRVL) on Solid Results
• Wells Fargo Boosts Price Target on Pandora (P), Maintains Outperform

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Earnings

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?