Rocky Brands, Inc. (NASDAQ:RCKY) Forecasted to Earn Q3 2022 Earnings of $0.64 Per Share

Rocky Brands, Inc. (NASDAQ:RCKYGet Rating) – B. Riley dropped their Q3 2022 earnings per share estimates for Rocky Brands in a research report issued to clients and investors on Wednesday, August 3rd. B. Riley analyst S. Anderson now anticipates that the textile maker will post earnings of $0.64 per share for the quarter, down from their previous estimate of $1.42. The consensus estimate for Rocky Brands’ current full-year earnings is $5.50 per share. B. Riley also issued estimates for Rocky Brands’ Q4 2022 earnings at $0.85 EPS, FY2022 earnings at $2.94 EPS and FY2023 earnings at $5.41 EPS.

Rocky Brands (NASDAQ:RCKYGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The textile maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.44). Rocky Brands had a net margin of 3.27% and a return on equity of 13.76%. During the same period in the previous year, the firm posted $0.99 EPS.

A number of other research analysts have also recently commented on the company. BTIG Research dropped their price target on Rocky Brands from $73.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday. Robert W. Baird dropped their price target on Rocky Brands from $47.00 to $32.00 in a research report on Wednesday.

Rocky Brands Stock Down 2.8 %

Shares of NASDAQ RCKY opened at $26.75 on Friday. Rocky Brands has a one year low of $24.20 and a one year high of $56.96. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.22 and a quick ratio of 0.75. The business’s fifty day moving average price is $34.02 and its 200-day moving average price is $38.52. The stock has a market capitalization of $195.62 million, a PE ratio of 9.73 and a beta of 0.71.

Institutional Trading of Rocky Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP raised its stake in shares of Rocky Brands by 103.8% during the 1st quarter. Quantbot Technologies LP now owns 801 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 408 shares during the period. Amalgamated Bank bought a new stake in shares of Rocky Brands during the 1st quarter valued at $35,000. FinTrust Capital Advisors LLC bought a new stake in shares of Rocky Brands during the 1st quarter valued at $59,000. BNP Paribas Arbitrage SA raised its stake in shares of Rocky Brands by 61.2% during the 4th quarter. BNP Paribas Arbitrage SA now owns 2,864 shares of the textile maker’s stock valued at $114,000 after purchasing an additional 1,087 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Rocky Brands by 27.3% in the 1st quarter. JPMorgan Chase & Co. now owns 3,213 shares of the textile maker’s stock worth $134,000 after acquiring an additional 689 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors.

Rocky Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Tuesday, May 31st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.32%. Rocky Brands’s payout ratio is 22.55%.

Rocky Brands Company Profile

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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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