Rocky Brands (NASDAQ:RCKY) Releases Earnings Results, Misses Expectations By $0.02 EPS

Rocky Brands (NASDAQ:RCKY) announced its quarterly earnings results on Tuesday. The textile maker reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02), Zacks reports. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%. The firm had revenue of $128.05 million during the quarter, compared to analyst estimates of $125.44 million.

Rocky Brands Price Performance

NASDAQ RCKY opened at $23.58 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 2.79. The stock has a market cap of $175.77 million, a price-to-earnings ratio of 13.25 and a beta of 2.10. The business has a 50 day simple moving average of $23.65 and a 200 day simple moving average of $25.78. Rocky Brands has a 52-week low of $19.65 and a 52-week high of $40.14.

Rocky Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.155 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.62 annualized dividend and a dividend yield of 2.63%. Rocky Brands’s dividend payout ratio is presently 34.83%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird lowered their target price on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. StockNews.com cut shares of Rocky Brands from a “buy” rating to a “hold” rating in a research report on Saturday, February 8th.

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.