Multi-Color (NASDAQ:LABL) released its quarterly earnings results on Tuesday. The business services provider reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.04, MarketWatch Earnings reports. The company had revenue of $435.00 million for the quarter, compared to analyst estimates of $453.46 million. Multi-Color had a return on equity of 11.70% and a net margin of 5.02%. Multi-Color’s revenue was up 69.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.06 earnings per share. Multi-Color updated its FY19 guidance to $4.20-4.50 EPS.
LABL stock traded down $1.70 during mid-day trading on Tuesday, reaching $54.48. The company had a trading volume of 1,648 shares, compared to its average volume of 87,306. The company has a quick ratio of 1.49, a current ratio of 1.97 and a debt-to-equity ratio of 2.21. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 14.22 and a beta of 0.84. Multi-Color has a 52 week low of $50.52 and a 52 week high of $89.70.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.37%. Multi-Color’s dividend payout ratio is 5.32%.
In other Multi-Color news, insider Nigel A. Vinecombe sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $60.88, for a total value of $1,522,000.00. Following the completion of the transaction, the insider now directly owns 62,190 shares in the company, valued at $3,786,127.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 32.20% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in Multi-Color by 13.6% in the second quarter. FMR LLC now owns 2,011,782 shares of the business services provider’s stock valued at $130,062,000 after purchasing an additional 240,099 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Multi-Color by 8.6% during the 2nd quarter. BlackRock Inc. now owns 1,935,538 shares of the business services provider’s stock worth $125,133,000 after acquiring an additional 153,887 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Multi-Color by 3.2% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,004,943 shares of the business services provider’s stock worth $64,970,000 after acquiring an additional 31,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Multi-Color by 25.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 933,600 shares of the business services provider’s stock worth $60,358,000 after acquiring an additional 191,424 shares during the period. Finally, Tributary Capital Management LLC boosted its stake in shares of Multi-Color by 17.0% during the 2nd quarter. Tributary Capital Management LLC now owns 322,324 shares of the business services provider’s stock worth $20,838,000 after acquiring an additional 46,804 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.
LABL has been the subject of a number of research reports. BidaskClub upgraded Multi-Color from a “strong sell” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded Multi-Color from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, ValuEngine downgraded Multi-Color from a “sell” rating to a “strong sell” rating in a report on Friday, August 17th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $72.00.
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Multi-Color Company Profile
Multi-Color Corporation provides various label solutions in the United States, Australia, Germany, and internationally. The company offers pressure sensitive labels; in-mold labels; heat transfer labels; cut and stack labels, such as peel-away promotional labels, thermochromics, holographics, and metalized films, as well as scratch-off coupons and static-clings; and roll fed labels.
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