Rocky Brands (NASDAQ:RCKY) Issues Quarterly Earnings Results

Rocky Brands (NASDAQ:RCKY) posted its earnings results on Tuesday. The textile maker reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02), Zacks reports. Rocky Brands had a return on equity of 7.74% and a net margin of 2.94%.

Rocky Brands Price Performance

Shares of Rocky Brands stock traded up $0.28 during trading on Tuesday, hitting $23.58. The stock had a trading volume of 29,145 shares, compared to its average volume of 35,996. The company has a current ratio of 2.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. Rocky Brands has a 12 month low of $19.65 and a 12 month high of $40.14. The firm has a market cap of $175.77 million, a price-to-earnings ratio of 13.25 and a beta of 2.10. The business’s 50-day moving average is $23.65 and its 200 day moving average is $25.81.

Rocky Brands Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.