Lifetime Brands (NASDAQ:LCUT) announced its earnings results on Thursday. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.36), MarketWatch Earnings reports. Lifetime Brands had a negative net margin of 1.96% and a negative return on equity of 0.58%. The firm had revenue of $209.45 million during the quarter. Lifetime Brands updated its FY 2018 guidance to EPS.
LCUT stock traded down $0.08 during trading on Friday, hitting $10.15. The stock had a trading volume of 9,948 shares, compared to its average volume of 20,295. Lifetime Brands has a 1-year low of $9.00 and a 1-year high of $19.25. The company has a market capitalization of $206.79 million, a price-to-earnings ratio of 14.30 and a beta of 0.95. The company has a current ratio of 3.22, a quick ratio of 1.20 and a debt-to-equity ratio of 1.21.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Friday, February 1st will be paid a $0.0425 dividend. This represents a $0.17 annualized dividend and a yield of 1.67%. The ex-dividend date is Thursday, January 31st. Lifetime Brands’s payout ratio is 23.94%.
A number of hedge funds have recently made changes to their positions in LCUT. Boston Partners acquired a new position in Lifetime Brands in the 2nd quarter valued at about $1,895,000. Rhumbline Advisers acquired a new position in Lifetime Brands in the 2nd quarter valued at about $150,000. Russell Investments Group Ltd. acquired a new position in Lifetime Brands in the 2nd quarter valued at about $1,540,000. Olstein Capital Management L.P. raised its stake in Lifetime Brands by 15.3% in the 2nd quarter. Olstein Capital Management L.P. now owns 204,200 shares of the company’s stock valued at $2,583,000 after purchasing an additional 27,050 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Lifetime Brands by 15.2% in the 2nd quarter. BlackRock Inc. now owns 850,187 shares of the company’s stock valued at $10,754,000 after purchasing an additional 111,957 shares during the last quarter. 46.18% of the stock is owned by hedge funds and other institutional investors.
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About Lifetime Brands
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 operates through three segments: U.S. Wholesale, International, and Retail Direct. It offers kitchenware products, including kitchen tools and gadgets, cutlery, cutting boards, shears, cookware, pantry ware, spice racks, and bakeware, as well as novelty kitchen tools, tableware accessories, party goods, personal accessories, and other products; and tableware products comprising dinnerware, stemware, flatware, and giftware.
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