Stocks: Rocky Brands Inc (RCKY) Expected to Post Earnings of $0.09 Per Share

Stocks: Rocky Brands Inc (RCKY) Expected to Post Earnings of $0.09 Per Share

Analysts forecast that Rocky Brands Inc (NASDAQ:RCKY) will post $0.09 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Rocky Brands’ earnings, with estimates ranging from $0.02 to $0.16. Rocky Brands posted earnings per share of ($0.23) during the same quarter last year, which suggests a positive year-over-year growth rate of 139.1%. The business is expected to report its next earnings results on Thursday, July 27th.

On average, analysts expect that Rocky Brands will report full year earnings of $0.92 per share for the current financial year, with EPS estimates ranging from $0.84 to $1.00. For the next year, analysts anticipate that the business will post earnings of $1.05 per share, with EPS estimates ranging from $0.95 to $1.15. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Rocky Brands.

Several equities analysts have weighed in on RCKY shares. Zacks Investment Research cut Rocky Brands from a “buy” rating to a “strong sell” rating in a report on Thursday, February 23rd. B. Riley restated a “neutral” rating and set a $13.00 price target on shares of Rocky Brands in a report on Monday, April 24th.

Rocky Brands (NASDAQ:RCKY) opened at 14.85 on Friday. The stock’s 50 day moving average price is $12.40 and its 200 day moving average price is $11.55. Rocky Brands has a one year low of $9.95 and a one year high of $15.70. The stock’s market cap is $110.41 million.

Institutional investors have recently made changes to their positions in the company. Marquette Asset Management Inc. acquired a new position in Rocky Brands during the first quarter worth about $175,000. Wedge Capital Management L L P NC boosted its position in 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 worth $212,000 after buying an additional 2,300 shares during the last quarter. ICM Asset Management Inc. WA acquired a new position in Rocky Brands during the third quarter worth about $267,000. Algert Global LLC boosted its position in Rocky Brands by 136.0% in the first quarter. Algert Global LLC now owns 59,990 shares of the textile maker’s stock worth $693,000 after buying an additional 34,567 shares during the last quarter. Finally, Numeric Investors LLC boosted its position in Rocky Brands by 10.8% in the fourth quarter. Numeric Investors LLC now owns 81,172 shares of the textile maker’s stock worth $938,000 after buying an additional 7,882 shares during the last quarter. Hedge funds and other institutional investors own 51.81% of the company’s stock.

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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