Lifetime Brands (NASDAQ:LCUT) Price Target Cut to $9.00 by Analysts at Canaccord Genuity Group

Lifetime Brands (NASDAQ:LCUT) had its price target decreased by Canaccord Genuity Group from $10.00 to $9.00 in a report published on Friday, Marketbeat reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. DA Davidson upped their price target on Lifetime Brands from $13.50 to $14.00 and gave the stock a “buy” rating in a report on Monday, August 12th. StockNews.com downgraded Lifetime Brands from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 6th.

Lifetime Brands Stock Performance

Lifetime Brands stock opened at $6.30 on Friday. The business’s 50-day moving average price is $6.71 and its two-hundred day moving average price is $8.44. Lifetime Brands has a 12-month low of $4.96 and a 12-month high of $11.68. The stock has a market cap of $139.06 million, a PE ratio of -23.33, a P/E/G ratio of 0.63 and a beta of 1.25. The company has a quick ratio of 0.92, a current ratio of 2.35 and a debt-to-equity ratio of 0.75.

Lifetime Brands (NASDAQ:LCUT) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Lifetime Brands had a positive return on equity of 4.51% and a negative net margin of 2.58%. The company had revenue of $141.67 million for the quarter, compared to the consensus estimate of $41.90 million. During the same quarter last year, the company posted ($0.02) EPS. As a group, analysts expect that Lifetime Brands will post 0.7 earnings per share for the current fiscal year.

Lifetime Brands Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp purchased a new position in shares of Lifetime Brands during the 2nd quarter valued at $87,000. Squarepoint Ops LLC lifted 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 buying an additional 4,575 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Lifetime Brands by 14.8% during the 2nd quarter. Renaissance Technologies LLC now owns 108,051 shares of the company’s stock valued at $928,000 after buying an additional 13,900 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Lifetime Brands by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,216,375 shares of the company’s stock valued at $10,449,000 after buying an additional 38,471 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Lifetime Brands by 88.0% during the 2nd quarter. American Century Companies Inc. now owns 161,252 shares of the company’s stock valued at $1,385,000 after buying an additional 75,475 shares during the last quarter. Institutional investors own 40.62% of the company’s stock.

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.