Rocky Brands (NASDAQ:RCKY) Issues Earnings Results, Beats Estimates By $0.07 EPS

Rocky Brands (NASDAQ:RCKY) released its quarterly earnings data on Tuesday. The textile maker reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07, Yahoo Finance reports. Rocky Brands had a return on equity of 8.41% and a net margin of 2.88%. The business had revenue of $98.26 million during the quarter.

Rocky Brands Stock Down 4.2 %

Shares of Rocky Brands stock traded down $1.46 during trading on Wednesday, reaching $33.68. The stock had a trading volume of 12,256 shares, compared to its average volume of 39,300. The company has a market capitalization of $249.91 million, a price-to-earnings ratio of 19.41 and a beta of 2.10. The stock has a fifty day moving average price of $35.97 and a two-hundred day moving average price of $31.17. Rocky Brands has a 52 week low of $11.77 and a 52 week high of $40.14. The company has a current ratio of 3.31, a quick ratio of 1.10 and a debt-to-equity ratio of 0.68.

Rocky Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a $0.155 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.84%. Rocky Brands’s dividend payout ratio (DPR) is 34.25%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RCKY shares. StockNews.com downgraded Rocky Brands from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Robert W. Baird raised their price objective on Rocky Brands from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st.

Insider Activity

In other Rocky Brands news, insider Curtis A. Loveland sold 2,515 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.56, for a total transaction of $89,433.40. Following the transaction, the insider now owns 96,783 shares of the company’s stock, valued at $3,441,603.48. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Curtis A. Loveland sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $37.00, for a total value of $148,000.00. Following the transaction, the insider now owns 95,804 shares of the company’s stock, valued at $3,544,748. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis A. Loveland sold 2,515 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $35.56, for a total value of $89,433.40. Following the completion of the transaction, the insider now directly owns 96,783 shares in the company, valued at approximately $3,441,603.48. The disclosure for this sale can be found here. Insiders have sold a total of 20,515 shares of company stock worth $750,713 over the last three months. Corporate insiders own 8.20% of the company’s stock.

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.