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

Lifetime Brands (NASDAQ:LCUT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.690-0.780 for the period, compared to the consensus estimate of 0.670. The company issued revenue guidance of $690.0 million-$730.0 million, compared to the consensus revenue estimate of $691.1 million.

Lifetime Brands Stock Up 7.7 %

LCUT stock traded up $0.71 during mid-day trading on Thursday, reaching $9.94. 22,732 shares of the company traded hands, compared to its average volume of 72,668. The stock has a market cap of $219.41 million, a price-to-earnings ratio of -25.26, a P/E/G ratio of 0.93 and a beta of 1.38. Lifetime Brands has a fifty-two week low of $4.31 and a fifty-two week high of $11.08. The firm’s 50 day moving average price is $9.80 and its 200 day moving average price is $8.05. The company has a quick ratio of 1.24, a current ratio of 2.48 and a debt-to-equity ratio of 0.85.

Lifetime Brands (NASDAQ:LCUT) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Lifetime Brands had a negative net margin of 1.23% and a positive return on equity of 4.84%. The business had revenue of $203.14 million for the quarter, compared to analysts’ expectations of $196.48 million. As a group, equities research analysts predict that Lifetime Brands will post 0.72 EPS for the current fiscal year.

Lifetime Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a dividend of $0.043 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.17 annualized dividend and a dividend yield of 1.73%. Lifetime Brands’s payout ratio is -43.59%.

Analyst Ratings Changes

LCUT has been the topic of several research analyst reports. Canaccord Genuity Group upped their price objective on shares of Lifetime Brands from $8.00 to $11.00 and gave the stock a buy rating in a research report on Wednesday, March 13th. TheStreet upgraded shares of Lifetime Brands from a d+ rating to a c- rating in a research report on Monday, March 11th. Finally, DA Davidson upped their target price on shares of Lifetime Brands from $9.50 to $11.50 and gave the stock a buy rating in a research report on Monday, March 25th.

Lifetime Brands Company Profile

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.