Q3 2022 EPS Estimates for Rocky Brands, Inc. Lowered by B. Riley (NASDAQ:RCKY)

Rocky Brands, Inc. (NASDAQ:RCKYGet Rating) – Investment analysts at B. Riley lowered their Q3 2022 earnings per share (EPS) estimates for Rocky Brands in a note issued to investors on Wednesday, May 4th. B. Riley analyst S. Anderson now expects that the textile maker will post earnings of $1.27 per share for the quarter, down from their previous estimate of $1.34.

Rocky Brands (NASDAQ:RCKYGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The textile maker reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.03. Rocky Brands had a return on equity of 17.19% and a net margin of 4.00%. During the same quarter in the previous year, the company earned $1.19 EPS.

A number of other analysts have also recently weighed in on RCKY. Zacks Investment Research cut shares of Rocky Brands from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 10th. StockNews.com assumed coverage on Rocky Brands in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.50.

RCKY stock opened at $39.91 on Thursday. The stock’s 50 day simple moving average is $42.36 and its 200 day simple moving average is $41.98. Rocky Brands has a 12-month low of $33.59 and a 12-month high of $69.00. The firm has a market cap of $291.74 million, a P/E ratio of 12.67 and a beta of 0.76. The company has a current ratio of 2.68, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35.

Hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC increased its stake in Rocky Brands by 35.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,729 shares of the textile maker’s stock valued at $529,000 after buying an additional 3,354 shares during the period. FinTrust Capital Advisors LLC bought a new position in shares of Rocky Brands in the first quarter valued at approximately $59,000. Summit Global Investments acquired a new position in shares of Rocky Brands during the first quarter valued at approximately $212,000. Barclays PLC lifted its holdings in shares of Rocky Brands by 97.8% in the fourth quarter. Barclays PLC now owns 8,317 shares of the textile maker’s stock valued at $331,000 after buying an additional 4,113 shares during the period. Finally, Oak Harbor Wealth Partners LLC acquired a new position in shares of Rocky Brands in the 4th quarter worth approximately $285,000. 79.35% of the stock is owned by institutional investors and hedge funds.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Tuesday, March 1st were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Monday, February 28th. This represents a $0.62 dividend on an annualized basis and a yield of 1.55%. Rocky Brands’s dividend payout ratio (DPR) is presently 19.68%.

About Rocky Brands (Get Rating)

Rocky Brands, Inc designs, manufactures, and markets footwear and apparel under the Rocky, Georgia Boot, Durango, Lehigh, Muck, XTRATUF, Servus, NEOS, Ranger, and licensed Michelin brand names in the United States, Canada, and internationally. It operates through Wholesale, Retail, and Contract Manufacturing segments.

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