Canaccord Genuity Group Issues Pessimistic Forecast for Lifetime Brands (NASDAQ:LCUT) Stock Price

Key Points

• Canaccord Genuity Group has lowered its price target for Lifetime Brands (NASDAQ: LCUT) from $6.00 to $5.00, maintaining a "buy" rating which suggests a potential upside of 25.63% from the stock's previous close.
• Lifetime Brands reported a loss of ($0.50) earnings per share for the last quarter, missing the consensus estimate significantly, and had a revenue of $131.86 million compared to expected revenue of $138.25 million.
• Several institutional investors have increased their stakes in Lifetime Brands, indicating growing interest, with hedge funds now owning 40.62% of the company's stock.

Lifetime Brands (NASDAQ:LCUT - Free Report) had its price target trimmed by Canaccord Genuity Group from $6.00 to $5.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Wall Street Zen cut shares of Lifetime Brands from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st.

Lifetime Brands Stock Down 1.3%

Shares of Lifetime Brands stock traded down $0.05 on Friday, hitting $4.03. The company had a trading volume of 2,955 shares, compared to its average volume of 71,138. The firm has a market capitalization of $90.29 million, a P/E ratio of -2.53, a P/E/G ratio of 1.86 and a beta of 1.63. Lifetime Brands has a twelve month low of $2.89 and a twelve month high of $7.72. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.65 and a quick ratio of 0.94. The stock has a 50-day moving average of $4.35 and a 200-day moving average of $4.42.

Lifetime Brands (NASDAQ:LCUT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.33). The business had revenue of $131.86 million for the quarter, compared to analyst estimates of $138.25 million. Lifetime Brands had a positive return on equity of 0.12% and a negative net margin of 5.16%. Research analysts predict that Lifetime Brands will post 0.55 earnings per share for the current year.

Lifetime Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, October 31st. Lifetime Brands's dividend payout ratio (DPR) is currently -10.69%.

Hedge Funds Weigh In On Lifetime Brands

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in Lifetime Brands by 270.1% during the first quarter. Bank of New York Mellon Corp now owns 140,710 shares of the company's stock worth $694,000 after acquiring an additional 102,691 shares during the period. Bank of America Corp DE increased its position in Lifetime Brands by 66.1% during the fourth quarter. Bank of America Corp DE now owns 29,908 shares of the company's stock worth $177,000 after acquiring an additional 11,899 shares during the period. Northern Trust Corp increased its position in Lifetime Brands by 22.5% during the fourth quarter. Northern Trust Corp now owns 133,160 shares of the company's stock worth $787,000 after acquiring an additional 24,445 shares during the period. JPMorgan Chase & Co. increased its position in Lifetime Brands by 744.1% during the fourth quarter. JPMorgan Chase & Co. now owns 45,589 shares of the company's stock worth $269,000 after acquiring an additional 40,188 shares during the period. Finally, Barclays PLC increased its holdings in Lifetime Brands by 93.8% in the 4th quarter. Barclays PLC now owns 36,851 shares of the company's stock valued at $218,000 after buying an additional 17,835 shares during the period. 40.62% of the stock is owned by institutional investors.

Lifetime Brands Company Profile

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.