Analysts Expect Rocky Brands, Inc. (RCKY) Will Announce Quarterly Sales of $62.29 Million
Wall Street analysts expect Rocky Brands, Inc. (NASDAQ:RCKY) to announce $62.29 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Rocky Brands’ earnings, with the highest sales estimate coming in at $62.88 million and the lowest estimate coming in at $61.70 million. Rocky Brands posted sales of $62.56 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.4%. The company is scheduled to issue its next earnings results on Thursday, July 27th.
On average, analysts expect that Rocky Brands will report full year sales of $62.29 million for the current fiscal year, with estimates ranging from $266.40 million to $267.52 million. For the next financial year, analysts anticipate that the business will report sales of $273.93 million per share, with estimates ranging from $270.05 million to $277.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Rocky Brands.
A number of analysts have commented on RCKY shares. Zacks Investment Research raised shares of Rocky Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 19th. B. Riley reissued a “neutral” rating and issued a $12.00 price target on shares of Rocky Brands in a research report on Wednesday, April 19th.
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In related news, Director Robert Burton Jr. Moore purchased 5,000 shares of the stock in a transaction on Monday, May 22nd. The shares were bought at an average price of $13.65 per share, for a total transaction of $68,250.00. Following the completion of the acquisition, the director now directly owns 8,099 shares in the company, valued at approximately $110,551.35. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in RCKY. Two Sigma Securities LLC bought a new stake in shares of Rocky Brands during the first quarter valued at about $122,000. Marquette Asset Management Inc. bought a new stake in shares of Rocky Brands during the first quarter valued at about $175,000. Wedge Capital Management L L P NC increased its stake in shares of Rocky Brands by 14.4% in the first quarter. Wedge Capital Management L L P NC now owns 18,325 shares of the textile maker’s stock valued at $212,000 after buying an additional 2,300 shares during the last quarter. ICM Asset Management Inc. WA increased its stake in shares of Rocky Brands by 68.3% in the fourth quarter. ICM Asset Management Inc. WA now owns 42,505 shares of the textile maker’s stock valued at $491,000 after buying an additional 17,247 shares during the last quarter. Finally, Algert Global LLC increased its stake in shares of Rocky Brands by 136.0% in the first quarter. Algert Global LLC now owns 59,990 shares of the textile maker’s stock valued at $693,000 after buying an additional 34,567 shares during the last quarter. Institutional investors own 51.61% of the company’s stock.
Rocky Brands (NASDAQ RCKY) traded up 0.195% during trading on Thursday, hitting $12.875. 19,122 shares of the stock were exchanged. The stock’s 50-day moving average price is $13.92 and its 200-day moving average price is $12.32. Rocky Brands has a 12-month low of $9.95 and a 12-month high of $15.70. The firm’s market cap is $95.79 million.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Tuesday, May 30th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.42%. The ex-dividend date was Thursday, May 25th. Rocky Brands’s payout ratio is presently -733.21%.
About Rocky Brands
Rocky Brands, Inc is a designer, manufacturer and marketer of footwear and apparel marketed under a portfolio of brand names, including Rocky, Georgia Boot, Durango, Lehigh, Creative Recreation and the licensed brand Michelin. The Company operates its business through three segments: wholesale, retail and military.
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