Multi-Color Corporation (LABL) to Post FY2018 Earnings of $3.91 Per Share, KeyCorp Forecasts
Multi-Color Corporation (NASDAQ:LABL) – Analysts at KeyCorp upped their FY2018 EPS estimates for Multi-Color Corporation in a research report issued to clients and investors on Sunday. KeyCorp analyst A. Josephson now anticipates that the business services provider will post earnings per share of $3.91 for the year, up from their prior forecast of $3.85. KeyCorp also issued estimates for Multi-Color Corporation’s FY2019 earnings at $4.25 EPS.
Multi-Color Corporation (NASDAQ:LABL) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.06. The firm 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%. The company’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 earnings per share. COPYRIGHT VIOLATION NOTICE: This report was first published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://theolympiareport.com/2017/08/17/multi-color-corporation-labl-to-post-fy2018-earnings-of-3-91-per-share-keycorp-forecasts.html.
A number of other research firms also recently issued reports on LABL. BidaskClub downgraded Multi-Color Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised Multi-Color Corporation from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Tuesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Multi-Color Corporation has a consensus rating of “Hold” and an average target price of $76.80.
Multi-Color Corporation (LABL) traded down 0.923% during midday trading on Tuesday, hitting $77.825. 38,836 shares of the company were exchanged. The firm’s 50-day moving average price is $79.93 and its 200-day moving average price is $77.14. Multi-Color Corporation has a one year low of $63.05 and a one year high of $88.25. The stock has a market capitalization of $1.33 billion, a PE ratio of 22.428 and a beta of 0.83.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised 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 valued at $114,113,000 after buying an additional 1,605,967 shares during the period. Aberdeen Asset Management PLC UK raised 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 valued at $55,520,000 after buying an additional 79,974 shares during the period. Tributary Capital Management LLC raised its stake in Multi-Color Corporation by 24.4% in the first quarter. Tributary Capital Management LLC now owns 236,128 shares of the business services provider’s stock valued at $16,765,000 after buying an additional 46,313 shares during the period. Pictet Asset Management Ltd. raised its stake in Multi-Color Corporation by 35.1% in the second quarter. Pictet Asset Management Ltd. now owns 114,723 shares of the business services provider’s stock valued at $9,855,000 after buying an additional 29,791 shares during the period. Finally, AMI Asset Management Corp raised its stake in Multi-Color Corporation by 20.0% in the second quarter. AMI Asset Management Corp now owns 161,258 shares of the business services provider’s stock valued at $13,159,000 after buying an additional 26,849 shares during the period. 76.33% of the stock is currently owned by institutional investors and hedge funds.
In other Multi-Color Corporation news, CFO Sharon E. Birkett sold 5,000 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $86.20, for a total value of $431,000.00. Following the completion of the sale, the chief financial officer now directly owns 6,342 shares in the company, valued at $546,680.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nigel A. Vinecombe sold 25,000 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $86.39, for a total value of $2,159,750.00. Following the completion of the sale, the insider now owns 14,309 shares of the company’s stock, valued at $1,236,154.51. The disclosure for this sale can be found here. Insiders have sold a total of 38,700 shares of company stock valued at $3,330,772 over the last 90 days. 19.40% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, August 11th. Multi-Color Corporation’s dividend payout ratio is 5.76%.
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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