Lifetime Brands (NASDAQ:LCUT) released its earnings results on Thursday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.08), Bloomberg Earnings reports. The firm had revenue of $142.54 million during the quarter, compared to analysts’ expectations of $153.11 million. Lifetime Brands had a negative net margin of 0.06% and a positive return on equity of 3.99%. Lifetime Brands updated its FY 2019 guidance to $0.50-0.62 EPS.
NASDAQ:LCUT traded up $0.12 on Friday, reaching $8.00. The stock had a trading volume of 5,066 shares, compared to its average volume of 19,430. The stock has a market cap of $164.87 million, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 0.94 and a beta of 1.28. The company has a current ratio of 2.96, a quick ratio of 1.12 and a debt-to-equity ratio of 1.36. The stock’s fifty day simple moving average is $9.16. Lifetime Brands has a 12-month low of $7.15 and a 12-month high of $12.40.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a $0.043 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 2.15%. This is a positive change from Lifetime Brands’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, July 31st. Lifetime Brands’s dividend payout ratio is 60.71%.
In other news, major shareholder Centre Partners V, L.P. bought 63,906 shares of Lifetime Brands stock in a transaction on Friday, May 17th. The shares were bought at an average cost of $9.59 per share, for a total transaction of $612,858.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders acquired 112,078 shares of company stock worth $1,070,309. 44.70% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in LCUT. United Asset Strategies Inc. purchased a new position in shares of Lifetime Brands during the 1st quarter worth about $173,000. Weber Alan W lifted its holdings in shares of Lifetime Brands by 44.4% during the 1st quarter. Weber Alan W now owns 65,000 shares of the company’s stock worth $614,000 after acquiring an additional 20,000 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lifetime Brands by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 118,701 shares of the company’s stock worth $1,190,000 after acquiring an additional 5,007 shares during the period. Teton Advisors Inc. lifted its holdings in shares of Lifetime Brands by 18.3% during the 1st quarter. Teton Advisors Inc. now owns 190,175 shares of the company’s stock worth $1,797,000 after acquiring an additional 29,478 shares during the period. Finally, Olstein Capital Management L.P. lifted its holdings in shares of Lifetime Brands by 14.3% during the 2nd quarter. Olstein Capital Management L.P. now owns 220,551 shares of the company’s stock worth $2,086,000 after acquiring an additional 27,551 shares during the period. Institutional investors and hedge funds own 44.94% 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 United States and internationally. The company operates through two segments, U.S. and International. It offers kitchenware products, including kitchen tools and gadgets, cutlery, cutting boards, shears, cookware, pantryware, spice racks, and bakeware, as well as kitchen scales; and tableware products comprising dinnerware, stemware, flatware, and giftware.
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