Rocky Brands (NASDAQ:RCKY) Announces Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Key Points

• Rocky Brands reported a quarterly earnings per share (EPS) of $0.55, significantly exceeding the consensus estimate of $0.24 by $0.31.
• The company also announced a quarterly dividend of $0.155 per share, which translates to an annualized dividend of $0.62 and a yield of 2.70%.
• Shares of Rocky Brands saw a decline of $0.52 during mid-day trading, closing at $22.98, while the company’s market cap stands at $171.43 million.

Rocky Brands (NASDAQ:RCKY - Get Free Report) posted its earnings results on Tuesday. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.24 by $0.31, Zacks reports. Rocky Brands had a return on equity of 9.34% and a net margin of 3.03%.

Rocky Brands Price Performance

Shares of RCKY traded down $0.52 during mid-day trading on Tuesday, reaching $22.98. 74,378 shares of the company's stock were exchanged, compared to its average volume of 59,548. The company has a quick ratio of 0.85, a current ratio of 2.64 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $22.66 and a two-hundred day simple moving average of $20.69. Rocky Brands has a 52-week low of $11.93 and a 52-week high of $35.69. The company has a market cap of $171.43 million, a price-to-earnings ratio of 12.56 and a beta of 2.34.

Rocky Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.70%. Rocky Brands's dividend payout ratio (DPR) is 33.88%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RCKY. Wall Street Zen downgraded shares of Rocky Brands from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. Robert W. Baird raised their price objective on shares of Rocky Brands from $16.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Rocky Brands stock. Empowered Funds LLC raised its stake in Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) by 6.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,672 shares of the textile maker's stock after purchasing an additional 2,205 shares during the quarter. Empowered Funds LLC owned about 0.46% of Rocky Brands worth $602,000 at the end of the most recent quarter. 75.06% of the stock is currently owned by institutional investors.

About Rocky Brands

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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