Rocky Brands, Inc. Declares Quarterly Dividend of $0.16 (NASDAQ:RCKY)

Rocky Brands, Inc. (NASDAQ:RCKY) declared a quarterly dividend on Monday, November 17th. Shareholders of record on Monday, December 1st will be paid a dividend of 0.155 per share by the textile maker on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, December 1st.

Rocky Brands has raised its dividend by an average of 0.0%per year over the last three years. Rocky Brands has a payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings.

Rocky Brands Stock Performance

NASDAQ:RCKY opened at $29.67 on Tuesday. The stock has a market cap of $222.35 million, a P/E ratio of 10.83 and a beta of 2.49. The company has a quick ratio of 0.79, a current ratio of 2.76 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average price is $29.08 and its two-hundred day moving average price is $25.76. Rocky Brands has a twelve month low of $11.93 and a twelve month high of $33.40.

Rocky Brands (NASDAQ:RCKY) last posted its quarterly earnings data on Tuesday, October 28th. The textile maker reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.13. The company had revenue of $122.54 million for the quarter, compared to analysts’ expectations of $122.92 million. Rocky Brands had a net margin of 4.37% and a return on equity of 11.15%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RCKY shares. Robert W. Baird set a $42.00 price target on shares of Rocky Brands in a report on Wednesday, October 29th. Baird R W raised shares of Rocky Brands from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Citigroup reissued a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. Weiss Ratings upgraded Rocky Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Rocky Brands in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Rocky Brands Company Profile

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.