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

Rocky Brands, Inc. (NASDAQ:RCKY) declared a quarterly dividend on Monday, November 18th,Wall Street Journal reports. Investors of record on Tuesday, December 3rd will be paid a dividend of 0.155 per share by the textile maker on Tuesday, December 17th. This represents a $0.62 annualized dividend and a yield of 2.86%. The ex-dividend date is Tuesday, December 3rd.

Rocky Brands has increased its dividend by an average of 13.9% per year over the last three years. Rocky Brands has a payout ratio of 19.4% meaning its dividend is sufficiently covered by earnings.

Rocky Brands Stock Performance

NASDAQ RCKY opened at $21.70 on Monday. The firm has a market cap of $161.67 million, a price-to-earnings ratio of 12.19 and a beta of 2.13. The company has a current ratio of 2.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.62. Rocky Brands has a 1-year low of $19.65 and a 1-year high of $40.14. The company has a 50 day moving average of $25.90 and a 200-day moving average of $30.95.

Rocky Brands (NASDAQ:RCKY) last issued its quarterly earnings data on Wednesday, October 30th. The textile maker reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.22). The business had revenue of $114.55 million during the quarter. Rocky Brands had a net margin of 2.94% and a return on equity of 7.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RCKY shares. Robert W. Baird lowered their price objective on shares of Rocky Brands from $32.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. StockNews.com lowered shares of Rocky Brands from a “buy” rating to a “hold” rating in a report on Thursday, October 31st.

About Rocky Brands

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.