Multi-Color Corp. (LABL) Stock Price Down 1.8%
Multi-Color Corp. (NASDAQ:LABL)’s share price dropped 1.8% during mid-day trading on Monday . The stock traded as low as $65.67 and last traded at $65.76, with a volume of 71,932 shares trading hands. The stock had previously closed at $66.99.
LABL has been the topic of several analyst reports. Zacks Investment Research upgraded Multi-Color Corp. from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Wednesday, June 1st. Singular Research raised their price target on Multi-Color Corp. from $67.00 to $70.00 and gave the stock a “buy – long-term” rating in a report on Wednesday, August 17th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $67.00.
The firm has a market capitalization of $1.11 billion and a price-to-earnings ratio of 22.22. The firm has a 50 day moving average of $65.27 and a 200 day moving average of $58.54.
Multi-Color Corp. (NASDAQ:LABL) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.07. During the same period last year, the company earned $0.91 EPS. The business earned $236.50 million during the quarter, compared to analyst estimates of $233.04 million. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts forecast that Multi-Color Corp. will post $3.61 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, August 11th.
In related news, Chairman Nigel A. Vinecombe sold 25,000 shares of the stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $63.20, for a total transaction of $1,580,000.00. Following the transaction, the chairman now owns 13,145 shares of the company’s stock, valued at approximately $830,764. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Sharon E. Birkett sold 5,000 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $68.40, for a total value of $342,000.00. Following the transaction, the chief financial officer now directly owns 4,061 shares in the company, valued at approximately $277,772.40. The disclosure for this sale can be found here.
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 with a range of label technologies in Pressure Sensitive, Glue-Applied (Cut and Stack), In-Mold, Shrink Sleeve and Heat Transfer.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.