Lifetime Brands (NASDAQ:LCUT) Updates FY 2024 Earnings Guidance

by · The Markets Daily

Lifetime Brands (NASDAQ:LCUT – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.510-0.600 for the period, compared to the consensus estimate of 0.710. The company issued revenue guidance of $680.0 million-$700.0 million, compared to the consensus revenue estimate of $693.9 million.

Lifetime Brands Price Performance

NASDAQ LCUT traded down $0.35 during mid-day trading on Friday, hitting $6.02. The stock had a trading volume of 82,910 shares, compared to its average volume of 65,106. The company has a 50 day simple moving average of $6.31 and a 200 day simple moving average of $7.99. Lifetime Brands has a 52-week low of $5.25 and a 52-week high of $11.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.92 and a current ratio of 2.35.

Lifetime Brands (NASDAQ:LCUT – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Lifetime Brands had a positive return on equity of 3.11% and a negative net margin of 3.19%. The firm had revenue of $141.67 million for the quarter, compared to analysts’ expectations of $41.90 million. During the same quarter last year, the firm earned ($0.02) earnings per share. On average, equities research analysts predict that Lifetime Brands will post 0.55 EPS for the current year.

Lifetime Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be paid a $0.043 dividend. This represents a $0.17 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, January 31st. Lifetime Brands’s dividend payout ratio is currently -17.17%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. StockNews.com upgraded shares of Lifetime Brands from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity Group reduced their price target on shares of Lifetime Brands from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, DA Davidson upped their target price on shares of Lifetime Brands from $13.50 to $14.00 and gave the stock a “buy” rating in a research report on Monday, August 12th.

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Lifetime Brands Company Profile

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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.

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