Rocky Brands (NASDAQ:RCKY) Releases Quarterly Earnings Results

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) issued its quarterly earnings data on Tuesday. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.31, Zacks reports. The company had revenue of $105.65 million during the quarter, compared to the consensus estimate of $102.54 million. Rocky Brands had a net margin of 4.03% and a return on equity of 10.49%.

Rocky Brands Stock Performance

NASDAQ:RCKY traded down $1.08 during mid-day trading on Friday, hitting $25.08. The stock had a trading volume of 90,258 shares, compared to its average volume of 65,698. The company has a current ratio of 2.64, a quick ratio of 0.85 and a debt-to-equity ratio of 0.51. The company has a 50 day simple moving average of $23.00 and a 200-day simple moving average of $20.79. The stock has a market capitalization of $187.10 million, a price-to-earnings ratio of 10.11 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.155 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.62 annualized dividend and a dividend yield of 2.5%. Rocky Brands's dividend payout ratio is currently 25.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RCKY shares. Wall Street Zen cut Rocky Brands from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. Robert W. Baird set a $30.00 price target on shares of Rocky Brands and gave the stock a "neutral" rating in a research note on Wednesday.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Rocky Brands stock. Empowered Funds LLC lifted its stake in shares of Rocky Brands, Inc. (NASDAQ:RCKY - Free Report) by 6.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,672 shares of the textile maker's stock after acquiring 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 reporting period. 75.06% of the stock is owned by hedge funds and other 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.