Rocky Brands, Inc. (NASDAQ:RCKY) Expected to Announce Earnings of $1.22 Per Share

Equities analysts expect that Rocky Brands, Inc. (NASDAQ:RCKY) will report $1.22 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Rocky Brands’ earnings. Rocky Brands posted earnings of $0.44 per share during the same quarter last year, which would indicate a positive year over year growth rate of 177.3%. The firm is expected to issue its next earnings report on Tuesday, July 27th.

According to Zacks, analysts expect that Rocky Brands will report full-year earnings of $6.14 per share for the current year. For the next year, analysts anticipate that the business will post earnings of $6.19 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Rocky Brands.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings results on Monday, May 3rd. The textile maker reported $1.19 EPS for the quarter, beating the consensus estimate of $0.59 by $0.60. Rocky Brands had a net margin of 7.85% and a return on equity of 17.04%. The business had revenue of $87.67 million for the quarter, compared to analysts’ expectations of $71.25 million.

Several research firms recently issued reports on RCKY. Zacks Investment Research lowered shares of Rocky Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 8th. B. Riley lifted their price objective on shares of Rocky Brands from $66.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, May 5th. Finally, Robert W. Baird lifted their price objective on shares of Rocky Brands from $40.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, June 14th.

Shares of RCKY stock traded down $0.98 on Thursday, hitting $48.13. The company’s stock had a trading volume of 1,458 shares, compared to its average volume of 78,431. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.11 and a quick ratio of 1.38. Rocky Brands has a fifty-two week low of $17.59 and a fifty-two week high of $69.00. The firm’s fifty day moving average price is $53.34. The firm has a market cap of $350.39 million, a PE ratio of 14.54 and a beta of 0.56.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 16th. Shareholders of record on Wednesday, June 2nd were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Tuesday, June 1st. Rocky Brands’s dividend payout ratio is 17.83%.

In other news, Director Robert Burton Jr. Moore bought 500 shares of the business’s stock in a transaction on Tuesday, May 25th. The stock was purchased at an average price of $53.00 per share, with a total value of $26,500.00. Following the transaction, the director now directly owns 28,734 shares in the company, valued at $1,522,902. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mike Brooks sold 6,000 shares of the company’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $65.30, for a total transaction of $391,800.00. Following the transaction, the chairman now directly owns 253,247 shares of the company’s stock, valued at approximately $16,537,029.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,696 shares of company stock valued at $1,285,813. Company insiders own 8.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in RCKY. Morgan Stanley raised its position in shares of Rocky Brands by 264.9% during the fourth quarter. Morgan Stanley now owns 157,220 shares of the textile maker’s stock valued at $4,413,000 after buying an additional 114,130 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in shares of Rocky Brands during the first quarter valued at about $4,246,000. Kennedy Capital Management Inc. acquired a new position in shares of Rocky Brands during the first quarter valued at about $3,934,000. EAM Investors LLC acquired a new position in shares of Rocky Brands during the first quarter valued at about $3,224,000. Finally, Hillsdale Investment Management Inc. raised its position in shares of Rocky Brands by 182.4% during the first quarter. Hillsdale Investment Management Inc. now owns 71,663 shares of the textile maker’s stock valued at $3,874,000 after buying an additional 46,289 shares during the last quarter. 72.13% of the stock is owned by institutional investors and hedge funds.

About Rocky Brands

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, and licensed Michelin brand names in the United States, Canada, and internationally. It operates through three segments: Wholesale, Retail, and Military. The Wholesale segment offers products in approximately 10,000 retail locations through a range of distribution channels comprising sporting goods stores, outdoor retailers, independent shoe retailers, hardware stores, catalogs, mass merchants, uniform stores, farm store chains, specialty safety stores, and specialty and online retailers.

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