Lifetime Brands (NASDAQ:LCUT) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Lifetime Brands (NASDAQ:LCUTGet Rating) released its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.19), Fidelity Earnings reports. Lifetime Brands had a net margin of 1.09% and a return on equity of 10.30%. During the same period in the prior year, the business earned $0.28 EPS. Lifetime Brands updated its FY 2022 guidance to $1.00-$1.19 EPS.

Lifetime Brands Stock Down 2.6 %

Lifetime Brands stock traded down $0.24 during mid-day trading on Friday, hitting $9.05. The company had a trading volume of 26,964 shares, compared to its average volume of 24,914. The company has a current ratio of 2.55, a quick ratio of 0.88 and a debt-to-equity ratio of 0.94. The stock’s 50 day moving average price is $10.91 and its two-hundred day moving average price is $12.26. Lifetime Brands has a 12 month low of $8.91 and a 12 month high of $19.93. The company has a market capitalization of $200.55 million, a PE ratio of 22.63, a price-to-earnings-growth ratio of 0.44 and a beta of 1.11.

Lifetime Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be issued a $0.043 dividend. This represents a $0.17 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Monday, October 31st. Lifetime Brands’s dividend payout ratio (DPR) is 42.50%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Lifetime Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th.

Institutional Investors Weigh In On Lifetime Brands

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in Lifetime Brands by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,308,005 shares of the company’s stock worth $16,795,000 after acquiring an additional 15,440 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Lifetime Brands by 0.8% in the first quarter. Vanguard Group Inc. now owns 633,633 shares of the company’s stock worth $8,136,000 after purchasing an additional 5,192 shares during the last quarter. Teton Advisors Inc. raised its stake in shares of Lifetime Brands by 2.0% in the first quarter. Teton Advisors Inc. now owns 256,175 shares of the company’s stock worth $3,289,000 after purchasing an additional 5,000 shares during the last quarter. State Street Corp raised its stake in shares of Lifetime Brands by 3.4% in the first quarter. State Street Corp now owns 221,756 shares of the company’s stock worth $2,847,000 after purchasing an additional 7,242 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Lifetime Brands by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 132,895 shares of the company’s stock worth $1,706,000 after purchasing an additional 5,434 shares during the last quarter. 41.57% of the stock is owned by institutional investors.

About Lifetime Brands

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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 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.

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Earnings History for Lifetime Brands (NASDAQ:LCUT)

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