Key Points
- Director Jeffrey Siegel sold 11,560 Lifetime Brands shares at an average price of $9.53, generating $110,166.80; he retained 1,166,337 shares afterward. He also sold 2,571 shares several days earlier for $24,450.21.
- Lifetime Brands recently reported quarterly EPS of $1.18, far exceeding the analyst estimate of a $0.21 loss, while revenue of $141.57 million also topped expectations.
- The company declared a quarterly dividend of $0.0425 per share, equivalent to $0.17 annually and a 1.9% yield. Analysts’ average rating is Moderate Buy, with an average price target of $9.50.
Lifetime Brands, Inc. (NASDAQ:LCUT - Get Free Report) Director Jeffrey Siegel sold 11,560 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $9.53, for a total transaction of $110,166.80. Following the completion of the transaction, the director owned 1,166,337 shares in the company, valued at approximately $11,115,191.61. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Jeffrey Siegel also recently made the following trade(s):
- On Thursday, August 20th, Jeffrey Siegel sold 2,571 shares of Lifetime Brands stock. The shares were sold at an average price of $9.51, for a total transaction of $24,450.21.
Lifetime Brands Stock Down 3.1%
Shares of NASDAQ LCUT opened at $9.13 on Thursday. The company has a quick ratio of 0.99, a current ratio of 2.11 and a debt-to-equity ratio of 0.51. The business's 50 day moving average is $8.73 and its two-hundred day moving average is $7.01. Lifetime Brands, Inc. has a 52-week low of $2.90 and a 52-week high of $10.17. The firm has a market cap of $209.90 million, a price-to-earnings ratio of 6.38, a PEG ratio of 0.32 and a beta of 1.00.
Lifetime Brands (NASDAQ:LCUT - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of ($0.21) by $1.39. Lifetime Brands had a return on equity of 26.39% and a net margin of 4.81%.The business had revenue of $141.57 million during the quarter, compared to analyst estimates of $136.64 million. Research analysts predict that Lifetime Brands, Inc. will post 2.08 EPS for the current year.
Lifetime Brands Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be paid a dividend of $0.0425 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.17 annualized dividend and a yield of 1.9%. Lifetime Brands's dividend payout ratio is presently 11.89%.
Institutional Investors Weigh In On Lifetime Brands
Several large investors have recently bought and sold shares of the stock. JB Capital Partners LP purchased a new position in Lifetime Brands in the second quarter worth approximately $13,820,463,000. BlackRock Inc. purchased a new stake in shares of Lifetime Brands in the 2nd quarter valued at approximately $8,092,000. Martin & Co. Inc. TN purchased a new stake in shares of Lifetime Brands in the 2nd quarter valued at approximately $3,799,000. Empowered Funds LLC acquired a new stake in shares of Lifetime Brands in the 2nd quarter valued at $1,139,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Lifetime Brands by 16.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 908,722 shares of the company's stock valued at $4,634,000 after purchasing an additional 130,650 shares in the last quarter. Hedge funds and other institutional investors own 40.62% of the company's stock.
Analysts Set New Price Targets
A number of analysts have issued reports on LCUT shares. Zacks Research upgraded shares of Lifetime Brands from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Wall Street Zen raised shares of Lifetime Brands from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 17th. Canaccord Genuity Group lifted their price objective on shares of Lifetime Brands from $6.00 to $7.00 and gave the company a "hold" rating in a report on Wednesday, July 22nd. Roth Capital reaffirmed a "buy" rating and set a $12.00 target price on shares of Lifetime Brands in a research note on Tuesday, August 11th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Lifetime Brands in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Lifetime Brands presently has an average rating of "Moderate Buy" and an average target price of $9.50.
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About Lifetime Brands
(
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Lifetime Brands, Inc, through its subsidiaries, designs, sources, manufactures and distributes a broad portfolio of consumer products for the home. Headquartered in Garden City, New York, the company operates three primary business segments—Kitchenware, Tabletop & Home Décor and Tools & Storage—providing solutions for food preparation, cooking, serving and storage under both proprietary and licensed brand names.
In the Kitchenware segment, Lifetime Brands offers cookware, bakeware, cutlery and small electric appliances under brands such as Farberware and Chef'sChoice.
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