Lifetime Brands (NASDAQ:LCUT) Releases FY 2024 Earnings Guidance

Lifetime Brands (NASDAQ:LCUT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.510-0.600 for the period, compared to the consensus estimate of 0.710. The company issued revenue guidance of $680.0 million-$700.0 million, compared to the consensus revenue estimate of $693.9 million.

Lifetime Brands Stock Performance

NASDAQ:LCUT traded down $0.35 on Friday, hitting $6.02. The stock had a trading volume of 82,910 shares, compared to its average volume of 65,106. The company has a current ratio of 2.35, a quick ratio of 0.92 and a debt-to-equity ratio of 0.75. The business’s 50-day simple moving average is $6.31 and its two-hundred day simple moving average is $7.99. Lifetime Brands has a 52-week low of $5.25 and a 52-week high of $11.68.

Lifetime Brands (NASDAQ:LCUT) last announced its 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). The firm had revenue of $141.67 million during the quarter, compared to analysts’ expectations of $41.90 million. Lifetime Brands had a positive return on equity of 3.11% and a negative net margin of 3.19%. During the same period in the previous year, the business posted ($0.02) earnings per share. Sell-side analysts predict that Lifetime Brands will post 0.55 earnings per share for the current year.

Lifetime Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 31st will be given a $0.043 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.17 annualized dividend and a yield of 2.86%. Lifetime Brands’s payout ratio is -17.17%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on LCUT shares. Canaccord Genuity Group dropped their target price on Lifetime Brands from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. DA Davidson raised their price objective on Lifetime Brands from $13.50 to $14.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, StockNews.com raised Lifetime Brands from a “hold” rating to a “buy” rating in a research note on Saturday.

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.