Lifetime Brands (NASDAQ:LCUT) Given New $4.00 Price Target at Canaccord Genuity Group

Lifetime Brands (NASDAQ:LCUT) had its target price decreased by Canaccord Genuity Group from $5.00 to $4.00 in a report released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other analysts have also issued reports on LCUT. Wall Street Zen lowered Lifetime Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lifetime Brands in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Lifetime Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $5.00.

Lifetime Brands Price Performance

NASDAQ:LCUT traded up $0.01 during midday trading on Friday, hitting $3.06. The company had a trading volume of 18,269 shares, compared to its average volume of 60,697. The company has a market capitalization of $68.59 million, a PE ratio of -1.92 and a beta of 1.53. The company has a quick ratio of 0.94, a current ratio of 2.65 and a debt-to-equity ratio of 0.89. Lifetime Brands has a 52-week low of $2.89 and a 52-week high of $7.05. The stock’s fifty day moving average price is $3.69 and its 200-day moving average price is $3.87.

Lifetime Brands (NASDAQ:LCUT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $171.91 million during the quarter, compared to analyst estimates of $178.76 million. Lifetime Brands had a positive return on equity of 0.12% and a negative net margin of 5.16%. As a group, research analysts expect that Lifetime Brands will post 0.55 earnings per share for the current year.

Lifetime Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a dividend of $0.0425 per share. This represents a $0.17 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Friday, January 30th. Lifetime Brands’s dividend payout ratio is currently -10.24%.

Hedge Funds Weigh In On Lifetime Brands

Several hedge funds and other institutional investors have recently modified their holdings of the company. Martin & Co. Inc. TN grew its stake in shares of Lifetime Brands by 1.3% in the second quarter. Martin & Co. Inc. TN now owns 525,757 shares of the company’s stock worth $2,681,000 after purchasing an additional 6,943 shares during the last quarter. Empowered Funds LLC lifted its holdings in Lifetime Brands by 7.3% in the 1st quarter. Empowered Funds LLC now owns 108,458 shares of the company’s stock worth $535,000 after buying an additional 7,385 shares during the period. Nuveen LLC bought a new stake in shares of Lifetime Brands in the 1st quarter worth approximately $82,000. Qube Research & Technologies Ltd bought a new stake in shares of Lifetime Brands in the 2nd quarter worth approximately $88,000. Finally, SageView Advisory Group LLC increased its stake in shares of Lifetime Brands by 60.4% during the first quarter. SageView Advisory Group LLC now owns 55,546 shares of the company’s stock valued at $274,000 after buying an additional 20,906 shares during the period. 40.62% of the stock is owned by institutional investors.

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.