$246.05 Million in Sales Expected for Multi-Color Corporation (LABL) This Quarter
Equities research analysts expect that Multi-Color Corporation (NASDAQ:LABL) will post sales of $246.05 million for the current quarter, according to Zacks. Two analysts have issued estimates for Multi-Color Corporation’s earnings, with the highest sales estimate coming in at $246.10 million and the lowest estimate coming in at $246.00 million. Multi-Color Corporation reported sales of $232.14 million during the same quarter last year, which indicates a positive year over year growth rate of 6%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Multi-Color Corporation will report full-year sales of $246.05 million for the current financial year. For the next fiscal year, analysts expect that the firm will post sales of $1.72 billion per share. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Multi-Color Corporation.
Multi-Color Corporation (NASDAQ:LABL) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Multi-Color Corporation had a net margin of 6.38% and a return on equity of 15.85%. The business had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $242.47 million. During the same period last year, the company posted $0.95 EPS. The business’s revenue was up 2.5% on a year-over-year basis.
A number of research firms have weighed in on LABL. BidaskClub cut shares of Multi-Color Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Multi-Color Corporation from a “hold” rating to a “buy” rating and set a $96.00 target price for the company in a research report on Friday, June 2nd. KeyCorp reiterated a “sell” rating and issued a $67.00 target price on shares of Multi-Color Corporation in a research report on Friday, August 25th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Multi-Color Corporation in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $79.00.
In other news, insider Nigel A. Vinecombe sold 25,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $80.23, for a total value of $2,005,750.00. Following the completion of the sale, the insider now directly owns 54,309 shares in the company, valued at $4,357,211.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 19.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Pinebridge Investments L.P. raised its position in shares of Multi-Color Corporation by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 1,742 shares of the business services provider’s stock valued at $143,000 after buying an additional 18 shares during the last quarter. Atria Investments LLC raised its position in shares of Multi-Color Corporation by 0.8% in the second quarter. Atria Investments LLC now owns 2,968 shares of the business services provider’s stock valued at $242,000 after buying an additional 24 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of 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 valued at $103,000 after purchasing an additional 40 shares during the period. Texas Permanent School Fund grew its holdings in shares of Multi-Color Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 9,654 shares of the business services provider’s stock valued at $788,000 after purchasing an additional 84 shares during the period. Finally, Blair William & Co. IL grew its holdings in shares of Multi-Color Corporation by 2.2% in the first quarter. Blair William & Co. IL now owns 4,651 shares of the business services provider’s stock valued at $333,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 73.64% of the company’s stock.
Multi-Color Corporation (NASDAQ:LABL) opened at 80.95 on Friday. The firm has a 50 day moving average of $79.22 and a 200-day moving average of $77.89. The stock has a market capitalization of $1.38 billion, a PE ratio of 23.33 and a beta of 0.83. Multi-Color Corporation has a 52 week low of $63.05 and a 52 week high of $88.25.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend was Friday, August 11th. Multi-Color Corporation’s dividend payout ratio (DPR) is 5.76%.
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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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