Lifetime Brands Inc (LCUT) Raised to Buy at Sidoti
Lifetime Brands Inc (NASDAQ:LCUT) was upgraded by equities research analysts at Sidoti from a “neutral” rating to a “buy” rating in a report issued on Friday, The Fly reports.
Shares of Lifetime Brands (NASDAQ:LCUT) traded up 2.361% during mid-day trading on Friday, reaching $18.425. The company’s stock had a trading volume of 37,191 shares. The stock has a market capitalization of $268.54 million, a P/E ratio of 14.406 and a beta of 1.02. Lifetime Brands has a 12-month low of $12.03 and a 12-month high of $21.20. The company’s 50-day moving average price is $19.38 and its 200-day moving average price is $17.44.
Lifetime Brands (NASDAQ:LCUT) last released its earnings results on Tuesday, May 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. The firm had revenue of $113.40 million during the quarter, compared to analyst estimates of $114.25 million. Lifetime Brands had a return on equity of 7.67% and a net margin of 2.05%. Lifetime Brands’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted ($0.24) earnings per share. On average, equities research analysts forecast that Lifetime Brands will post $1.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 1st were given a $0.0425 dividend. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $0.17 dividend on an annualized basis and a yield of 0.94%. Lifetime Brands’s payout ratio is currently 20.73%.
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In related news, major shareholder Mill Road Capital Ii, L.P. purchased 163,335 shares of Lifetime Brands stock in a transaction dated Monday, March 13th. The shares were acquired at an average price of $18.04 per share, with a total value of $2,946,563.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.82% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Olstein Capital Management L.P. boosted its stake in shares of Lifetime Brands by 2.3% in the fourth quarter. Olstein Capital Management L.P. now owns 268,000 shares of the company’s stock worth $3,554,000 after buying an additional 6,000 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its stake in shares of Lifetime Brands by 5.3% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 245,545 shares of the company’s stock worth $3,256,000 after buying an additional 12,270 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Lifetime Brands by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,212,232 shares of the company’s stock worth $21,517,000 after buying an additional 3,991 shares during the period. GSA Capital Partners LLP raised its stake in shares of Lifetime Brands by 11.9% in the fourth quarter. GSA Capital Partners LLP now owns 82,219 shares of the company’s stock worth $1,090,000 after buying an additional 8,735 shares during the period. Finally, State Street Corp raised its stake in shares of Lifetime Brands by 5.2% in the fourth quarter. State Street Corp now owns 166,994 shares of the company’s stock worth $2,962,000 after buying an additional 8,258 shares during the period. Institutional investors and hedge funds own 57.46% of the company’s stock.
Lifetime Brands Company Profile
Lifetime Brands, Inc designs, sources and sells branded kitchenware, tableware and other products used in the home. The Company operates through three segments: U.S. Wholesale, International and Retail Direct. In the U.S. Wholesale segment, the Company designs, markets and distributes its products to retailers and distributors.
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