Lifetime Brands (NASDAQ:LCUT) Announces Quarterly Earnings Results

Lifetime Brands (NASDAQ:LCUTGet Rating) released its earnings results on Thursday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01), MarketWatch Earnings reports. Lifetime Brands had a net margin of 2.41% and a return on equity of 14.91%. During the same quarter last year, the firm posted $0.13 EPS.

Shares of NASDAQ:LCUT traded down $0.60 during trading hours on Friday, hitting $11.16. 58,283 shares of the company’s stock traded hands, compared to its average volume of 33,112. Lifetime Brands has a 52 week low of $11.15 and a 52 week high of $19.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.00 and a current ratio of 2.26. The company’s fifty day simple moving average is $12.89 and its two-hundred day simple moving average is $14.81. The company has a market cap of $247.53 million, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 0.56 and a beta of 1.22.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Monday, May 2nd will be given a dividend of $0.043 per share. The ex-dividend date is Friday, April 29th. This represents a $0.17 annualized dividend and a dividend yield of 1.54%. Lifetime Brands’s dividend payout ratio (DPR) is 20.73%.

Several research firms have commented on LCUT. StockNews.com began coverage on shares of Lifetime Brands in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research cut shares of Lifetime Brands from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, TheStreet cut shares of Lifetime Brands from a “b-” rating to a “c” rating in a research note on Tuesday, April 5th.

In other news, President Daniel Siegel sold 9,900 shares of the firm’s stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $12.83, for a total transaction of $127,017.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 41.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in LCUT. Millennium Management LLC acquired a new position in shares of Lifetime Brands in the fourth quarter worth about $413,000. Zacks Investment Management boosted its holdings in shares of Lifetime Brands by 73.8% in the fourth quarter. Zacks Investment Management now owns 35,266 shares of the company’s stock worth $563,000 after buying an additional 14,980 shares during the period. Barclays PLC boosted its holdings in shares of Lifetime Brands by 74.1% in the fourth quarter. Barclays PLC now owns 23,986 shares of the company’s stock worth $382,000 after buying an additional 10,205 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Lifetime Brands by 9.7% in the third quarter. Bank of New York Mellon Corp now owns 112,451 shares of the company’s stock worth $2,045,000 after buying an additional 9,903 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Lifetime Brands by 9,620.4% in the second quarter. Morgan Stanley now owns 9,526 shares of the company’s stock worth $143,000 after buying an additional 9,428 shares during the period. Institutional investors own 41.57% of the company’s stock.

About Lifetime Brands (Get Rating)

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the United States and internationally. 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.

Further Reading

Earnings History for Lifetime Brands (NASDAQ:LCUT)

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