Canaccord Genuity Group Issues Positive Forecast for Lifetime Brands (NASDAQ:LCUT) Stock Price

Lifetime Brands (NASDAQ:LCUT) had its price objective upped by Canaccord Genuity Group from $6.00 to $7.00 in a report published on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also issued reports on LCUT. Roth Capital increased their target price on shares of Lifetime Brands from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Zacks Research cut Lifetime Brands from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lifetime Brands in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded Lifetime Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.50.

Lifetime Brands Stock Up 2.0%

LCUT stock opened at $8.64 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.93 and a quick ratio of 1.26. The stock has a market capitalization of $197.42 million, a price-to-earnings ratio of -6.80, a PEG ratio of 0.83 and a beta of 1.00. The business’s fifty day moving average price is $8.54 and its two-hundred day moving average price is $6.08. Lifetime Brands has a fifty-two week low of $2.90 and a fifty-two week high of $9.80.

Lifetime Brands (NASDAQ:LCUT) last announced its earnings results on Thursday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.22. Lifetime Brands had a negative net margin of 4.22% and a positive return on equity of 8.01%. The company had revenue of $143.51 million during the quarter, compared to analysts’ expectations of $137.58 million. On average, equities analysts anticipate that Lifetime Brands will post 0.73 earnings per share for the current year.

Lifetime Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be issued a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, July 31st. Lifetime Brands’s dividend payout ratio is -13.39%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new position in Lifetime Brands during the second quarter valued at approximately $88,000. Bank of America Corp DE lifted its stake in Lifetime Brands by 39.0% during the first quarter. Bank of America Corp DE now owns 20,722 shares of the company’s stock worth $119,000 after purchasing an additional 5,809 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Lifetime Brands in the 3rd quarter valued at $118,000. Jane Street Group LLC boosted its holdings in shares of Lifetime Brands by 388.4% in the 4th quarter. Jane Street Group LLC now owns 51,795 shares of the company’s stock valued at $205,000 after purchasing an additional 41,191 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Lifetime Brands by 7.3% in the 1st quarter. Empowered Funds LLC now owns 108,458 shares of the company’s stock valued at $535,000 after purchasing an additional 7,385 shares during the last quarter. 40.62% of the stock is owned by institutional investors.

About Lifetime Brands

Lifetime Brands, Inc, through its subsidiaries, designs, sources, manufactures and distributes a broad portfolio of consumer products for the home. Headquartered in Garden City, New York, the company operates three primary business segments—Kitchenware, Tabletop & Home Décor and Tools & Storage—providing solutions for food preparation, cooking, serving and storage under both proprietary and licensed brand names.

In the Kitchenware segment, Lifetime Brands offers cookware, bakeware, cutlery and small electric appliances under brands such as Farberware and Chef’sChoice.