Lifetime Brands (LCUT) Stock Falls Amid Market Uptick: What Investors Need to Know
Lifetime Brands (LCUT) closed the most recent trading day at $9.52, moving -1.96% from the previous trading session. This change lagged the S&P 500's 0.51% gain on the day. Meanwhile, the Dow experienced a rise of 0.2%, and the technology-dominated Nasdaq saw an increase of 0.58%.
The the stock of kitchen products company has risen by 12.38% in the past month, leading the Consumer Discretionary sector's gain of 1.3% and the S&P 500's gain of 2.94%.
The investment community will be closely monitoring the performance of Lifetime Brands in its forthcoming earnings report. The company is scheduled to release its earnings on March 12, 2024. The company is predicted to post an EPS of $0.32, indicating a 45.45% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $196.48 million, down 5.1% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Lifetime Brands. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.5% decrease. Lifetime Brands presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Lifetime Brands is currently trading at a Forward P/E ratio of 13.12. This signifies a discount in comparison to the average Forward P/E of 15.6 for its industry.
It is also worth noting that LCUT currently has a PEG ratio of 0.94. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Consumer Products - Discretionary was holding an average PEG ratio of 1.56 at yesterday's closing price.
The Consumer Products - Discretionary industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 41, positioning it in the top 17% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow LCUT in the coming trading sessions, be sure to utilize Zacks.com.
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Lifetime Brands, Inc. (LCUT) : Free Stock Analysis Report
