Lifetime Brands, Inc. (NASDAQ:LCUT) Plans $0.04 Quarterly Dividend

Lifetime Brands, Inc. (NASDAQ:LCUT) announced a quarterly dividend on Monday, June 22nd. Stockholders of record on Friday, July 31st will be given a dividend of 0.0425 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, July 31st.

Lifetime Brands has a dividend payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lifetime Brands to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.17 annual dividend with an expected future payout ratio of 17.0%.

Lifetime Brands Trading Down 3.0%

LCUT opened at $8.19 on Tuesday. The firm’s 50 day moving average is $7.89 and its 200-day moving average is $5.40. Lifetime Brands has a 52-week low of $2.90 and a 52-week high of $9.80. The company has a quick ratio of 1.26, a current ratio of 2.93 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $187.14 million, a P/E ratio of -6.45, a P/E/G ratio of 0.83 and a beta of 0.99.

Lifetime Brands (NASDAQ:LCUT) last announced its earnings results on Thursday, May 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.22. Lifetime Brands had a negative net margin of 4.22% and a positive return on equity of 8.01%. The business had revenue of $143.51 million during the quarter, compared to the consensus estimate of $137.58 million. Analysts expect that Lifetime Brands will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LCUT has been the subject of several recent analyst reports. Roth Mkm restated a “buy” rating and set a $8.00 target price on shares of Lifetime Brands in a research note on Monday, May 11th. Wall Street Zen upgraded Lifetime Brands from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Zacks Research raised Lifetime Brands from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Finally, Canaccord Genuity Group raised their price objective on Lifetime Brands from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $7.00.

About Lifetime Brands

Lifetime Brands, Inc, through its subsidiaries, designs, sources, manufactures and distributes a broad portfolio of consumer products for the home. Headquartered in Garden City, New York, the company operates three primary business segments—Kitchenware, Tabletop & Home Décor and Tools & Storage—providing solutions for food preparation, cooking, serving and storage under both proprietary and licensed brand names.

In the Kitchenware segment, Lifetime Brands offers cookware, bakeware, cutlery and small electric appliances under brands such as Farberware and Chef’sChoice.