Canaccord Genuity Group Trims Lifetime Brands (NASDAQ:LCUT) Target Price to $9.00

by · The Cerbat Gem

Lifetime Brands (NASDAQ:LCUT – Free Report) had its price objective lowered by Canaccord Genuity Group from $10.00 to $9.00 in a research report released on Friday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

LCUT has been the topic of several other research reports. DA Davidson raised their price target on Lifetime Brands from $13.50 to $14.00 and gave the company a “buy” rating in a report on Monday, August 12th. StockNews.com cut Lifetime Brands from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 6th.

Read Our Latest Report on LCUT

Lifetime Brands Stock Performance

Shares of LCUT opened at $6.30 on Friday. The stock’s 50-day simple moving average is $6.71 and its 200 day simple moving average is $8.44. The stock has a market capitalization of $139.06 million, a price-to-earnings ratio of -23.33, a price-to-earnings-growth ratio of 0.63 and a beta of 1.25. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.92 and a current ratio of 2.35. Lifetime Brands has a 52-week low of $4.96 and a 52-week high of $11.68.

Lifetime Brands (NASDAQ:LCUT – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $141.67 million for the quarter, compared to analysts’ expectations of $41.90 million. Lifetime Brands had a positive return on equity of 4.51% and a negative net margin of 2.58%. During the same period last year, the company posted ($0.02) EPS. Research analysts forecast that Lifetime Brands will post 0.7 EPS for the current fiscal year.

Lifetime Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.043 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.17 annualized dividend and a dividend yield of 2.73%. Lifetime Brands’s payout ratio is currently -62.96%.

Hedge Funds Weigh In On Lifetime Brands

Institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp bought a new position in shares of Lifetime Brands during the 2nd quarter valued at about $87,000. Rhumbline Advisers increased its position in shares of Lifetime Brands by 579.0% during the 2nd quarter. Rhumbline Advisers now owns 13,173 shares of the company’s stock valued at $113,000 after purchasing an additional 11,233 shares during the last quarter. Heron Bay Capital Management increased its position in shares of Lifetime Brands by 81.1% during the 1st quarter. Heron Bay Capital Management now owns 18,690 shares of the company’s stock valued at $196,000 after purchasing an additional 8,369 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Lifetime Brands by 28.5% during the 2nd quarter. Squarepoint Ops LLC now owns 20,621 shares of the company’s stock valued at $177,000 after purchasing an additional 4,575 shares during the last quarter. Finally, Chemistry Wealth Management LLC bought a new position in shares of Lifetime Brands during the 1st quarter valued at about $235,000. 40.62% of the stock is currently owned by institutional investors.

Lifetime Brands Company Profile

(Get Free Report)

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.

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