Zacks: Analysts Anticipate Rocky Brands, Inc. (NASDAQ:RCKY) Will Post Earnings of $1.22 Per Share

Analysts expect Rocky Brands, Inc. (NASDAQ:RCKY) to announce earnings per share (EPS) of $1.22 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Rocky Brands’ earnings. Rocky Brands reported earnings of $0.44 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 177.3%. The business is scheduled to issue its next quarterly 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 fiscal year, analysts forecast that the company will report earnings of $6.19 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Rocky Brands.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data on Monday, May 3rd. The textile maker reported $1.19 earnings per share for the quarter, topping 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 firm had revenue of $87.67 million for the quarter, compared to analysts’ expectations of $71.25 million.

RCKY has been the topic of several research analyst reports. Robert W. Baird boosted their price target on shares of Rocky Brands from $40.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, June 14th. Zacks Investment Research cut shares of Rocky Brands from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 8th. Finally, B. Riley boosted their price target on shares of Rocky Brands from $66.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, May 5th.

Shares of Rocky Brands stock traded down $0.98 on Thursday, hitting $48.13. 1,458 shares of the company traded hands, compared to its average volume of 78,431. The stock’s 50-day moving average is $53.34. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.38 and a current ratio of 3.11. Rocky Brands has a 12-month low of $17.59 and a 12-month high of $69.00. The company has a market cap of $350.39 million, a P/E ratio of 14.54 and a beta of 0.56.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 16th. Investors of record on Wednesday, June 2nd were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, June 1st. Rocky Brands’s payout ratio is presently 17.83%.

In other Rocky Brands news, Chairman Mike Brooks sold 13,326 shares of the business’s stock in a transaction on Tuesday, May 18th. The shares were sold at an average price of $55.91, for a total transaction of $745,056.66. Following the completion of the transaction, the chairman now owns 229,992 shares of the company’s stock, valued at approximately $12,858,852.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Burton Jr. Moore bought 500 shares of the business’s stock in a transaction on Tuesday, May 25th. The shares were purchased at an average cost of $53.00 per share, with a total value of $26,500.00. Following the transaction, the director now owns 28,734 shares in the company, valued at $1,522,902. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 21,696 shares of company stock valued at $1,285,813. 8.60% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its position in Rocky Brands by 284.7% during the 1st quarter. Meeder Asset Management Inc. now owns 577 shares of the textile maker’s stock worth $31,000 after acquiring an additional 427 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of Rocky Brands during the first quarter valued at about $43,000. Citigroup Inc. raised its position in shares of Rocky Brands by 297.3% during the fourth quarter. Citigroup Inc. now owns 1,311 shares of the textile maker’s stock valued at $37,000 after buying an additional 981 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Rocky Brands during the first quarter valued at about $125,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Rocky Brands by 108.4% during the first quarter. BNP Paribas Arbitrage SA now owns 3,007 shares of the textile maker’s stock valued at $163,000 after buying an additional 1,564 shares during the last quarter. 72.13% of the stock is owned by hedge funds and other institutional investors.

Rocky Brands Company Profile

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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