Multi-Color Corporation (NASDAQ:LABL) – KeyCorp lowered their FY2018 EPS estimates for shares of Multi-Color Corporation in a research note issued on Tuesday. KeyCorp analyst A. Josephson now expects that the business services provider will earn $3.83 per share for the year, down from their prior estimate of $3.91. KeyCorp has a “Sell” rating and a $67.00 price objective on the stock. KeyCorp also issued estimates for Multi-Color Corporation’s Q4 2018 earnings at $1.16 EPS.
Multi-Color Corporation (NASDAQ:LABL) last announced its quarterly earnings data on Tuesday, November 7th. The business services provider reported $1.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.05). Multi-Color Corporation had a net margin of 6.10% and a return on equity of 15.52%. The business had revenue of $256.03 million during the quarter, compared to analysts’ expectations of $246.61 million. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Multi-Color Corporation’s revenue was up 10.3% on a year-over-year basis.
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Several other equities research analysts have also recently issued reports on the company. Robert W. Baird reaffirmed a “hold” rating and issued a $80.00 target price on shares of Multi-Color Corporation in a report on Friday. Zacks Investment Research cut Multi-Color Corporation from a “hold” rating to a “sell” rating in a research note on Friday. Finally, BMO Capital Markets reissued a “hold” rating and set a $88.00 price objective on shares of Multi-Color Corporation in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $82.75.
Shares of Multi-Color Corporation (LABL) opened at $71.40 on Friday. Multi-Color Corporation has a twelve month low of $63.05 and a twelve month high of $88.25. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.96 and a quick ratio of 1.38. The stock has a market capitalization of $1,459.49, a PE ratio of 19.83 and a beta of 0.78.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%. Multi-Color Corporation’s dividend payout ratio is 5.90%.
In related news, Chairman Nigel A. Vinecombe sold 3,081 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $82.15, for a total value of $253,104.15. Following the completion of the sale, the chairman now owns 54,309 shares in the company, valued at $4,461,484.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nigel A. Vinecombe sold 10,301 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $82.06, for a total value of $845,300.06. Following the completion of the sale, the insider now owns 54,309 shares of the company’s stock, valued at approximately $4,456,596.54. The disclosure for this sale can be found here. Insiders sold 63,846 shares of company stock valued at $5,194,386 in the last quarter. 19.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pinebridge Investments L.P. lifted its holdings in Multi-Color Corporation by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 1,742 shares of the business services provider’s stock worth $143,000 after buying an additional 18 shares during the period. Atria Investments LLC lifted its holdings in Multi-Color Corporation by 0.8% during the second quarter. Atria Investments LLC now owns 2,968 shares of the business services provider’s stock worth $242,000 after buying an additional 24 shares during the period. Texas Permanent School Fund lifted its holdings in Multi-Color Corporation by 0.9% during the second quarter. Texas Permanent School Fund now owns 9,654 shares of the business services provider’s stock worth $788,000 after buying an additional 84 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in Multi-Color Corporation by 3.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,180 shares of the business services provider’s stock worth $341,000 after buying an additional 120 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Multi-Color Corporation by 0.9% during the first quarter. Legal & General Group Plc now owns 22,063 shares of the business services provider’s stock worth $1,566,000 after buying an additional 190 shares during the period. Hedge funds and other institutional investors own 73.76% of the company’s stock.
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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