Lifetime Brands Inc. (LCUT) Shares Down 5.5%
Lifetime Brands Inc. (NASDAQ:LCUT) shares dropped 5.5% during trading on Friday . The company traded as low as $13.38 and last traded at $13.39, with a volume of 68,044 shares trading hands. The stock had previously closed at $14.17.
Separately, Sidoti raised Lifetime Brands from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Monday, May 23rd.
The stock has a market cap of $190.45 million and a PE ratio of 19.18. The company’s 50-day moving average price is $15.29 and its 200 day moving average price is $14.19.
Lifetime Brands (NASDAQ:LCUT) last released its earnings results on Tuesday, May 10th. The company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.13. The firm earned $10.90 million during the quarter, compared to the consensus estimate of $120.01 million. During the same period in the previous year, the firm posted ($0.14) EPS. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts forecast that Lifetime Brands Inc. will post $1.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 1st will be paid a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Thursday, July 28th.
In related news, COO Ronald Shiftan sold 6,532 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $14.83, for a total transaction of $96,869.56. Following the completion of the transaction, the chief operating officer now owns 124,490 shares of the company’s stock, valued at approximately $1,846,186.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael J. Jeary sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $15.89, for a total value of $79,450.00. Following the transaction, the director now directly owns 51,442 shares of the company’s stock, valued at approximately $817,413.38. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Lifetime Brands stock. Dimensional Fund Advisors LP increased its position in shares of Lifetime Brands Inc. (NASDAQ:LCUT) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,151,883 shares of the company’s stock after buying an additional 22,414 shares during the period. Dimensional Fund Advisors LP owned 8.21% of Lifetime Brands worth $15,274,000 as of its most recent filing with the SEC.
Lifetime Brands, Inc designs, sources and sells branded kitchenware, tableware and other products used in the home. The Company has three business segments: U.S. Wholesale, which is the Company’s primary business that designs, markets and distributes its products to retailers and distributors; International, which operates certain business operations that are conducted outside the United States; and Retail Direct, which markets and sells a limited selection of its products through its Pfaltzgraff, Mikasa, Built NY, Fred & Friends and Lifetime Sterling Internet websites.
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