Rocky Brands (NASDAQ:RCKY) Issues Earnings Results, Misses Expectations By $0.14 EPS

Key Points

• EPS missed expectations: Rocky Brands reported Q earnings of $0.24 per share, missing the $0.38 consensus by $0.14, while revenue beat at $124.4 million versus $122.42 million and the company posted a net margin of 4.62% and ROE of 10.08%.
• Shares rose 1.4% to $43.84 on Tuesday despite the EPS miss; the company has a market cap of $330.6 million, a P/E of 14.8 and a 52‑week range of $13.05–$48.70.
• Dividend and sentiment: Rocky Brands declared a quarterly dividend of $0.155 (annualized $0.62, yield 1.4%, payout ratio ~20.95%), institutional ownership is about 75%, and analysts hold a consensus "Hold" rating with a $42 target after recent downgrades.

Rocky Brands (NASDAQ:RCKY - Get Free Report) posted its quarterly earnings results on Tuesday. The textile maker reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.14), FiscalAI reports. Rocky Brands had a net margin of 4.62% and a return on equity of 10.08%. The firm had revenue of $124.40 million for the quarter, compared to the consensus estimate of $122.42 million.

Rocky Brands Trading Up 1.4%

NASDAQ RCKY traded up $0.62 during trading on Tuesday, hitting $43.84. The company had a trading volume of 87,037 shares, compared to its average volume of 48,163. The company has a current ratio of 2.82, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45. Rocky Brands has a one year low of $13.05 and a one year high of $48.70. The company has a market cap of $330.55 million, a price-to-earnings ratio of 14.81 and a beta of 2.58. The company's fifty day moving average is $41.11 and its 200-day moving average is $34.17.

Rocky Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.155 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.62 annualized dividend and a yield of 1.4%. Rocky Brands's dividend payout ratio is 20.95%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. raised its holdings in Rocky Brands by 24.3% in the 2nd quarter. Raymond James Financial Inc. now owns 557,502 shares of the textile maker's stock worth $12,371,000 after purchasing an additional 109,012 shares in the last quarter. Vanguard Group Inc. raised its holdings in Rocky Brands by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 421,576 shares of the textile maker's stock worth $12,559,000 after purchasing an additional 8,892 shares in the last quarter. Geode Capital Management LLC raised its holdings in Rocky Brands by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 170,407 shares of the textile maker's stock worth $3,782,000 after purchasing an additional 1,303 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Rocky Brands by 9.6% in the 4th quarter. Russell Investments Group Ltd. now owns 132,751 shares of the textile maker's stock worth $3,894,000 after purchasing an additional 11,634 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Rocky Brands by 12.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 110,128 shares of the textile maker's stock worth $3,230,000 after acquiring an additional 12,422 shares in the last quarter. 75.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Rocky Brands from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 28th. Weiss Ratings lowered shares of Rocky Brands from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $42.00.

Rocky Brands Company Profile

Rocky Brands, Inc is a designer, manufacturer and marketer of premium footwear, apparel and accessories for a diverse range of end-users. The company serves outdoor enthusiasts, hardworking professionals and military personnel under a family of brands that includes Rocky, Georgia Boot, Durango and Xtratuf. Products span hunting and hiking boots, work and safety footwear, western and lifestyle boots, as well as performance socks and outerwear.

Rocky Brands operates multiple production and distribution facilities in North America, with its corporate headquarters located in Nelsonville, Ohio.

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