Rocky Brands, Inc. to Issue Quarterly Dividend of $0.16 (NASDAQ:RCKY)

Key Points

• Rocky Brands, Inc. has declared a quarterly dividend of $0.16 per share, with investors of record set to be paid on September 16, 2023, representing an annualized yield of 2.3%.
• The company's recent earnings report showed earnings per share of $0.55, exceeding expectations, with revenue of $105.65 million outpacing analyst estimates of $102.54 million.
• Wall Street analysts have increased their price target for Rocky Brands from $20.00 to $30.00, indicating a growing confidence in the company's future performance.

Rocky Brands, Inc. (NASDAQ:RCKY - Get Free Report) declared a quarterly dividend on Monday, August 18th, RTT News reports. Investors of record on Tuesday, September 2nd will be paid a dividend of 0.155 per share by the textile maker on Tuesday, September 16th. This represents a c) annualized dividend and a dividend yield of 2.3%.

Rocky Brands has a dividend payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings.

Rocky Brands Stock Down 0.0%

Shares of Rocky Brands stock traded down $0.01 during trading on Monday, hitting $26.43. The company's stock had a trading volume of 52,283 shares, compared to its average volume of 62,004. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.79 and a current ratio of 2.76. The company has a fifty day simple moving average of $23.81 and a two-hundred day simple moving average of $20.86. The company has a market capitalization of $197.43 million, a PE ratio of 10.66 and a beta of 2.35. Rocky Brands has a 52 week low of $11.93 and a 52 week high of $33.04.

Rocky Brands (NASDAQ:RCKY - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.31. The company had revenue of $105.65 million during the quarter, compared to analyst estimates of $102.54 million. Rocky Brands had a net margin of 4.03% and a return on equity of 10.41%.

Wall Street Analysts Forecast Growth

RCKY has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on shares of Rocky Brands from $20.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Wall Street Zen downgraded shares of Rocky Brands from a "buy" rating to a "hold" rating in a research report on Monday, May 12th.

Rocky Brands Company Profile

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments. The Wholesale segment offers products, which includes sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, specialty retailers, and online retailers in retail locations through a range of distribution channels.

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