Multi-Color Corporation (NASDAQ:LABL) Forecasted to Earn Q1 2018 Earnings of $0.80 Per Share
Multi-Color Corporation (NASDAQ:LABL) – KeyCorp reduced their Q1 2018 earnings per share estimates for shares of Multi-Color Corporation in a note issued to investors on Wednesday. KeyCorp analyst A. Josephson now anticipates that the business services provider will earn $0.80 per share for the quarter, down from their prior estimate of $0.95. KeyCorp also issued estimates for Multi-Color Corporation’s Q2 2018 earnings at $1.10 EPS and Q4 2018 earnings at $1.13 EPS.
Several other equities analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Multi-Color Corporation from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a report on Friday, June 2nd. BidaskClub lowered shares of Multi-Color Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $78.60.
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Multi-Color Corporation (NASDAQ LABL) opened at 80.65 on Monday. Multi-Color Corporation has a 52-week low of $62.90 and a 52-week high of $88.25. The firm has a 50-day moving average of $81.86 and a 200 day moving average of $77.15. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 22.53 and a beta of 0.83.
Multi-Color Corporation (NASDAQ:LABL) last posted its quarterly earnings results on Tuesday, May 30th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The firm had revenue of $244 million for the quarter, compared to analyst estimates of $235.95 million. Multi-Color Corporation had a net margin of 6.61% and a return on equity of 16.99%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share.
Large investors have recently modified their holdings of the stock. Aberdeen Asset Management PLC UK increased its stake in shares of Multi-Color Corporation by 11.4% in the first quarter. Aberdeen Asset Management PLC UK now owns 781,972 shares of the business services provider’s stock valued at $55,520,000 after buying an additional 79,974 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Multi-Color Corporation by 5.8% in the first quarter. Thrivent Financial For Lutherans now owns 7,450 shares of the business services provider’s stock valued at $529,000 after buying an additional 410 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Multi-Color Corporation by 100.6% in the first quarter. Victory Capital Management Inc. now owns 2,293 shares of the business services provider’s stock valued at $163,000 after buying an additional 1,150 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Multi-Color Corporation by 10.6% in the first quarter. BNP Paribas Arbitrage SA now owns 2,466 shares of the business services provider’s stock valued at $175,000 after buying an additional 236 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Multi-Color Corporation by 19.3% in the first quarter. Sei Investments Co. now owns 13,053 shares of the business services provider’s stock valued at $926,000 after buying an additional 2,111 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.
In other Multi-Color Corporation news, insider Nigel A. Vinecombe sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $86.39, for a total value of $2,159,750.00. Following the completion of the sale, the insider now owns 14,309 shares of the company’s stock, valued at $1,236,154.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles B. Connolly sold 8,700 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $85.06, for a total transaction of $740,022.00. Following the completion of the sale, the director now directly owns 3,470 shares of the company’s stock, valued at approximately $295,158.20. The disclosure for this sale can be found here. Insiders sold 38,700 shares of company stock valued at $3,330,772 in the last ninety days. Insiders own 19.40% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, August 11th. Multi-Color Corporation’s payout ratio is presently 5.59%.
About Multi-Color Corporation
Multi-Color Corporation (Multi-Color) is engaged in label solutions business, supporting brands, including producers of home and personal care, wine and spirit, food and beverage, healthcare and specialty consumer products. The Company serves international brand owners in North, Central and South America, Europe, Australia, New Zealand, South Africa and China and Southeast Asia with a range of label technologies in Pressure Sensitive, Glue-Applied (Cut and Stack), In-Mold, Shrink Sleeve and Heat Transfer.
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