Lifetime Brands (NASDAQ:LCUT) PT Lowered to $9.00 at Canaccord Genuity Group

Lifetime Brands (NASDAQ:LCUT) had its price objective decreased by Canaccord Genuity Group from $10.00 to $9.00 in a report issued on Friday, MarketBeat Ratings reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. DA Davidson raised their price objective on shares of Lifetime Brands from $13.50 to $14.00 and gave the company a “buy” rating in a research report on Monday, August 12th. StockNews.com lowered shares of Lifetime Brands from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

Lifetime Brands Stock Down 2.6 %

Lifetime Brands stock opened at $6.30 on Friday. The firm’s 50 day moving average price is $6.71 and its two-hundred day moving average price is $8.41. The firm has a market cap of $139.06 million, a PE ratio of -23.33, a P/E/G ratio of 0.63 and a beta of 1.25. Lifetime Brands has a twelve month low of $4.96 and a twelve month high of $11.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.92 and a current ratio of 2.35.

Lifetime Brands (NASDAQ:LCUT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Lifetime Brands had a positive return on equity of 4.51% and a negative net margin of 2.58%. The firm had revenue of $141.67 million for the quarter, compared to analysts’ expectations of $41.90 million. During the same quarter in the prior year, the business posted ($0.02) earnings per share. On average, research analysts predict that Lifetime Brands will post 0.7 EPS for the current fiscal year.

Lifetime Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.043 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.17 annualized dividend and a yield of 2.73%. Lifetime Brands’s dividend payout ratio (DPR) is presently -62.96%.

Hedge Funds Weigh In On Lifetime Brands

A number of institutional investors have recently modified their holdings of LCUT. Mackenzie Financial Corp acquired a new position in Lifetime Brands in the 2nd quarter valued at $87,000. Rhumbline Advisers grew its position in shares of Lifetime Brands by 579.0% in the second quarter. Rhumbline Advisers now owns 13,173 shares of the company’s stock valued at $113,000 after purchasing an additional 11,233 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Lifetime Brands by 28.5% in the second quarter. Squarepoint Ops LLC now owns 20,621 shares of the company’s stock worth $177,000 after purchasing an additional 4,575 shares during the period. Heron Bay Capital Management lifted its position in shares of Lifetime Brands by 81.1% during the 1st quarter. Heron Bay Capital Management now owns 18,690 shares of the company’s stock worth $196,000 after purchasing an additional 8,369 shares during the last quarter. Finally, Chemistry Wealth Management LLC bought a new stake in Lifetime Brands during the 1st quarter valued at approximately $235,000. Institutional investors own 40.62% of the company’s stock.

Lifetime Brands Company Profile

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the worldwide. The company provides kitchenware products, including kitchen tools and gadgets, cutlery, kitchen scales, thermometers, cutting boards, shears, cookware, pantryware, spice racks, and bakeware; and tableware products comprising dinnerware, stemware, flatware, and giftware.