Analysts expect Multi-Color Corporation (NASDAQ:LABL) to post sales of $241.55 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Multi-Color Corporation’s earnings. The lowest sales estimate is $239.10 million and the highest is $244.00 million. Multi-Color Corporation reported sales of $232.14 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 8th.
On average, analysts expect that Multi-Color Corporation will report full year sales of $241.55 million for the current year, with estimates ranging from $950.50 million to $968.00 million. For the next financial year, analysts forecast that the firm will report sales of $985.65 million per share, with estimates ranging from $974.30 million to $997.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Multi-Color Corporation.
Multi-Color Corporation (NASDAQ:LABL) last issued its earnings results 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. The company had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $242.47 million. Multi-Color Corporation had a net margin of 6.38% and a return on equity of 15.85%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.95 EPS.
Several brokerages have commented on LABL. BidaskClub cut shares of Multi-Color Corporation from a “hold” rating to a “sell” rating in a research note 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 price objective for the company in a research note on Friday, June 2nd. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $78.60.
In other Multi-Color Corporation news, Director Charles B. Connolly sold 8,700 shares of Multi-Color Corporation stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $85.06, for a total transaction of $740,022.00. Following the completion of the sale, the director now directly owns 3,470 shares in the company, valued at approximately $295,158.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sharon E. Birkett sold 5,000 shares of Multi-Color Corporation stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $86.20, for a total transaction of $431,000.00. Following the sale, the chief financial officer now owns 6,342 shares of the company’s stock, valued at $546,680.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,700 shares of company stock valued at $3,330,772. Company insiders own 19.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake 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 buying an additional 40 shares during the last quarter. US Bancorp DE raised its position in Multi-Color Corporation by 88.7% in the first quarter. US Bancorp DE now owns 1,838 shares of the business services provider’s stock valued at $130,000 after buying an additional 864 shares during the period. Victory Capital Management Inc. raised its position in Multi-Color Corporation by 100.6% in the first quarter. Victory Capital Management Inc. now owns 2,293 shares of the business services provider’s stock valued at $163,000 after buying an additional 1,150 shares during the period. BNP Paribas Arbitrage SA raised its position in Multi-Color Corporation by 10.6% in the first quarter. BNP Paribas Arbitrage SA now owns 2,466 shares of the business services provider’s stock valued at $175,000 after buying an additional 236 shares during the period. Finally, Atria Investments LLC raised its position in Multi-Color Corporation by 4.2% in the first quarter. Atria Investments LLC now owns 2,944 shares of the business services provider’s stock valued at $209,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 77.01% of the company’s stock.
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Multi-Color Corporation (NASDAQ LABL) opened at 77.35 on Thursday. The company has a 50-day moving average of $80.86 and a 200-day moving average of $77.21. The stock has a market cap of $1.31 billion, a PE ratio of 21.61 and a beta of 0.83. Multi-Color Corporation has a 12 month low of $63.05 and a 12 month high of $88.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Friday, August 11th. Multi-Color Corporation’s 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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