Lifetime Brands (LCUT) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Lifetime Brands (NASDAQ:LCUT) released its quarterly earnings data on Thursday, May 9th. The company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.22, MarketWatch Earnings reports. Lifetime Brands had a net margin of 0.68% and a return on equity of 3.58%. The firm had revenue of $149.93 million for the quarter. Lifetime Brands updated its FY 2019 guidance to $0.71-0.76 EPS.

Shares of NASDAQ LCUT traded down $0.06 during trading hours on Friday, hitting $9.51. 43,367 shares of the stock were exchanged, compared to its average volume of 31,663. 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 company has a market cap of $199.60 million, a P/E ratio of 33.96 and a beta of 0.97. Lifetime Brands has a one year low of $8.01 and a one year high of $13.75.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were issued a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Tuesday, April 30th. Lifetime Brands’s dividend payout ratio is currently 60.71%.

In other news, major shareholder Centre Partners V, L.P. acquired 124,171 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was acquired at an average cost of $9.41 per share, with a total value of $1,168,449.11. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have purchased 360,420 shares of company stock valued at $3,415,449. 41.70% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of LCUT. Dimensional Fund Advisors LP grew its stake in shares of Lifetime Brands by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,209,337 shares of the company’s stock valued at $13,182,000 after buying an additional 19,651 shares in the last quarter. Teton Advisors Inc. grew its stake in shares of Lifetime Brands by 13.6% in the fourth quarter. Teton Advisors Inc. now owns 160,697 shares of the company’s stock valued at $1,612,000 after buying an additional 19,246 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Lifetime Brands by 43.0% in the fourth quarter. Rhumbline Advisers now owns 16,975 shares of the company’s stock valued at $170,000 after buying an additional 5,104 shares in the last quarter. Boston Partners grew its stake in shares of Lifetime Brands by 37.7% in the fourth quarter. Boston Partners now owns 137,969 shares of the company’s stock valued at $1,384,000 after buying an additional 37,791 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Lifetime Brands by 2.9% in the fourth quarter. BlackRock Inc. now owns 874,261 shares of the company’s stock valued at $8,769,000 after buying an additional 24,494 shares in the last quarter. 46.36% of the stock is owned by hedge funds and other institutional investors.

Separately, ValuEngine lowered shares of Lifetime Brands from a “hold” rating to a “sell” rating in a research note on Monday, February 4th.

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Lifetime Brands Company Profile

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.

Further Reading: How to Trade Using Analysts Ratings

Earnings History for Lifetime Brands (NASDAQ:LCUT)

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