Sterne Agee Lowers 4Q14 Estimates For Wolverine World Wide, Inc.

In a report published Monday, Sterne Agee analyst Sam Poser reiterated an Underperform rating and $23.00 price target on Wolverine World Wide, Inc. (NYSE: WWW).

In the report, Sterne Agee noted, “Reiterate Underperform rating. Trends in Sperry and Merrell have not improved since WWW provided guidance on 7/15. Reducing 4Q14 estimates due to FX pressures. The company's 2018 revenue expectations need to be reduced from $4.1B to sub $3.5B due to recent lackluster performance for both Merrell & Sperry. 2018 EPS target may be achieved. The stock remains expensive given modest revenue growth and debt levels.”

Wolverine World Wide, Inc. closed on Friday at $25.56.