Lifetime Brands (NASDAQ:LCUT) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Lifetime Brands (NASDAQ:LCUT) from a buy rating to a hold rating in a research report released on Wednesday.

LCUT has been the subject of a number of other reports. Canaccord Genuity Group decreased their price target on Lifetime Brands from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, May 12th. DA Davidson decreased their price target on Lifetime Brands from $6.75 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th.

Lifetime Brands Trading Down 2.2%

Shares of NASDAQ LCUT opened at $3.16 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.36 and a quick ratio of 0.97. The stock has a market capitalization of $70.83 million, a P/E ratio of -3.19, a price-to-earnings-growth ratio of 0.48 and a beta of 1.55. Lifetime Brands has a 1-year low of $2.89 and a 1-year high of $11.53. The business has a fifty day moving average price of $4.08 and a 200 day moving average price of $5.15.

Lifetime Brands (NASDAQ:LCUT) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.11). Lifetime Brands had a positive return on equity of 3.13% and a negative net margin of 3.19%. The company had revenue of $140.09 million for the quarter, compared to analysts’ expectations of $144.86 million. Equities research analysts expect that Lifetime Brands will post 0.55 EPS for the current fiscal year.

Lifetime Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 1st were paid a $0.0425 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend was Thursday, May 1st. Lifetime Brands’s dividend payout ratio (DPR) is presently -27.87%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of Lifetime Brands in the first quarter worth about $82,000. Barclays PLC raised its stake in shares of Lifetime Brands by 38.7% in the third quarter. Barclays PLC now owns 19,016 shares of the company’s stock worth $124,000 after purchasing an additional 5,302 shares during the last quarter. Corton Capital Inc. purchased a new position in shares of Lifetime Brands in the fourth quarter worth about $122,000. Hsbc Holdings PLC raised its stake in shares of Lifetime Brands by 84.9% in the fourth quarter. Hsbc Holdings PLC now owns 21,625 shares of the company’s stock worth $128,000 after purchasing an additional 9,932 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Lifetime Brands by 66.1% in the fourth quarter. Bank of America Corp DE now owns 29,908 shares of the company’s stock worth $177,000 after purchasing an additional 11,899 shares during the last quarter. 40.62% of the stock is currently owned by hedge funds and other 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.