Canaccord Genuity Group Has Lowered Expectations for Lifetime Brands (NASDAQ:LCUT) Stock Price

Lifetime Brands (NASDAQ:LCUT) had its price objective cut by Canaccord Genuity Group from $6.00 to $5.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. StockNews.com raised Lifetime Brands from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. DA Davidson reduced their price target on Lifetime Brands from $6.75 to $6.00 and set a “neutral” rating for the company in a report on Thursday, March 20th.

Lifetime Brands Stock Performance

Shares of LCUT stock opened at $3.64 on Monday. The stock has a market cap of $81.59 million, a PE ratio of -3.68, a price-to-earnings-growth ratio of 0.48 and a beta of 1.55. The business has a 50-day simple moving average of $4.33 and a 200-day simple moving average of $5.25. The company has a quick ratio of 0.97, a current ratio of 2.36 and a debt-to-equity ratio of 0.88. Lifetime Brands has a 52-week low of $2.89 and a 52-week high of $11.68.

Lifetime Brands (NASDAQ:LCUT) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.11). The company had revenue of $140.09 million during the quarter, compared to analyst estimates of $144.86 million. Lifetime Brands had a negative net margin of 3.19% and a positive return on equity of 3.13%. On average, equities analysts expect that Lifetime Brands will post 0.55 EPS for the current year.

Lifetime Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st will be paid a dividend of $0.0425 per share. The ex-dividend date is Thursday, May 1st. This represents a $0.17 annualized dividend and a yield of 4.67%. Lifetime Brands’s dividend payout ratio (DPR) is currently -27.87%.

Institutional Investors Weigh In On Lifetime Brands

Several large investors have recently bought and sold shares of the company. Empowered Funds LLC lifted its position in shares of Lifetime Brands by 5.2% during the 4th quarter. Empowered Funds LLC now owns 101,073 shares of the company’s stock valued at $597,000 after acquiring an additional 4,980 shares during the period. Barclays PLC boosted its position in Lifetime Brands by 38.7% during the 3rd quarter. Barclays PLC now owns 19,016 shares of the company’s stock worth $124,000 after purchasing an additional 5,302 shares during the period. Hsbc Holdings PLC boosted its position in Lifetime Brands by 84.9% during the 4th quarter. Hsbc Holdings PLC now owns 21,625 shares of the company’s stock worth $128,000 after purchasing an additional 9,932 shares during the period. SageView Advisory Group LLC boosted its position in Lifetime Brands by 41.8% during the 4th quarter. SageView Advisory Group LLC now owns 34,640 shares of the company’s stock worth $205,000 after purchasing an additional 10,219 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Lifetime Brands during the 3rd quarter worth $67,000. 40.62% of the stock is currently owned by hedge funds and other institutional investors.

About Lifetime Brands

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.