Multi-Color Corporation (LABL) Posts Earnings Results, Beats Expectations By $0.06 EPS
Multi-Color Corporation (NASDAQ:LABL) issued its quarterly earnings results on Tuesday. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06, Bloomberg Earnings reports. Multi-Color Corporation had a return on equity of 16.99% and a net margin of 6.61%. The firm had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $242.47 million. During the same period in the previous year, the firm posted $0.95 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year.
Multi-Color Corporation (NASDAQ LABL) traded down 0.50% during trading on Tuesday, reaching $79.10. The company had a trading volume of 38,231 shares. Multi-Color Corporation has a 12-month low of $62.90 and a 12-month high of $88.25. The stock has a market capitalization of $1.34 billion, a P/E ratio of 22.09 and a beta of 0.83. The stock has a 50 day moving average of $81.86 and a 200-day moving average of $77.15.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.20 annualized dividend and a yield of 0.25%. Multi-Color Corporation’s dividend payout ratio (DPR) is presently 5.59%.
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In other Multi-Color Corporation news, Director Charles B. Connolly sold 8,700 shares of Multi-Color Corporation stock in a transaction on Monday, June 12th. The shares were sold at an average price of $85.06, for a total value of $740,022.00. Following the completion of the transaction, the director now owns 3,470 shares of the company’s stock, valued at $295,158.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nigel A. Vinecombe sold 25,000 shares of Multi-Color Corporation stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $86.39, for a total transaction of $2,159,750.00. Following the completion of the transaction, the insider now directly owns 14,309 shares of the company’s stock, valued at approximately $1,236,154.51. 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. 19.40% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in Multi-Color Corporation by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 1,460 shares of the business services provider’s stock worth $103,000 after buying an additional 40 shares in the last quarter. US Bancorp DE boosted its stake in Multi-Color Corporation by 88.7% in the first quarter. US Bancorp DE now owns 1,838 shares of the business services provider’s stock worth $130,000 after buying an additional 864 shares in the last quarter. Victory Capital Management Inc. boosted its stake in 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 worth $163,000 after buying an additional 1,150 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in 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 worth $175,000 after buying an additional 236 shares in the last quarter. Finally, Atria Investments LLC boosted its stake in Multi-Color Corporation by 4.2% in the first quarter. Atria Investments LLC now owns 2,944 shares of the business services provider’s stock worth $209,000 after buying an additional 119 shares in the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. Zacks Investment Research raised Multi-Color Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. BidaskClub cut Multi-Color Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $78.60.
Multi-Color Corporation Company Profile
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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