KeyCorp Weighs in on Multi-Color Corporation’s Q2 2018 Earnings (LABL)
Multi-Color Corporation (NASDAQ:LABL) – KeyCorp lowered their Q2 2018 EPS estimates for shares of Multi-Color Corporation in a note issued to investors on Sunday. KeyCorp analyst A. Josephson now expects that the business services provider will post earnings of $1.08 per share for the quarter, down from their prior forecast of $1.10. KeyCorp also issued estimates for Multi-Color Corporation’s Q4 2018 earnings at $1.12 EPS.
Multi-Color Corporation (NASDAQ:LABL) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $242.40 million for the quarter, compared to analyst estimates of $242.47 million. Multi-Color Corporation had a net margin of 6.38% and a return on equity of 15.85%. Multi-Color Corporation’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 EPS. COPYRIGHT VIOLATION NOTICE: “KeyCorp Weighs in on Multi-Color Corporation’s Q2 2018 Earnings (LABL)” was first published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2017/08/16/keycorp-weighs-in-on-multi-color-corporations-q2-2018-earnings-labl.html.
Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Multi-Color Corporation from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Tuesday. BidaskClub lowered shares of Multi-Color Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $76.80.
Shares of Multi-Color Corporation (LABL) traded up 0.735% on Wednesday, reaching $78.825. 15,947 shares of the company were exchanged. Multi-Color Corporation has a 12-month low of $63.05 and a 12-month high of $88.25. The company’s 50 day moving average is $80.05 and its 200 day moving average is $77.13. The firm has a market capitalization of $1.34 billion, a PE ratio of 22.716 and a beta of 0.83.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, August 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. Multi-Color Corporation’s dividend payout ratio (DPR) is presently 5.76%.
In related news, insider Nigel A. Vinecombe sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 14,309 shares in the company, valued at $1,236,154.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles B. Connolly sold 8,700 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $85.06, for a total transaction of $740,022.00. Following the sale, the director now 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 have sold 38,700 shares of company stock valued at $3,330,772 in the last 90 days. 19.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Multi-Color Corporation by 125,662.5% in the first quarter. BlackRock Inc. now owns 1,607,245 shares of the business services provider’s stock worth $114,113,000 after buying an additional 1,605,967 shares during the period. Aberdeen Asset Management PLC UK increased its stake in 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 worth $55,520,000 after buying an additional 79,974 shares during the period. Vanguard Group Inc. increased its stake in Multi-Color Corporation by 3.7% in the second quarter. Vanguard Group Inc. now owns 715,059 shares of the business services provider’s stock worth $58,348,000 after buying an additional 25,470 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Multi-Color Corporation by 1.8% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 707,450 shares of the business services provider’s stock worth $57,728,000 after buying an additional 12,825 shares during the period. Finally, State Street Corp increased its stake in Multi-Color Corporation by 4.0% in the second quarter. State Street Corp now owns 327,791 shares of the business services provider’s stock worth $26,748,000 after buying an additional 12,528 shares during the period. Institutional investors and hedge funds own 76.33% of the company’s stock.
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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