KeyCorp Research Analysts Cut Earnings Estimates for Multi-Color Corporation (LABL)
Multi-Color Corporation (NASDAQ:LABL) – Research analysts at KeyCorp reduced their Q1 2018 earnings estimates for Multi-Color Corporation in a research note issued to investors on Wednesday. KeyCorp analyst A. Josephson now forecasts that the business services provider will post earnings per share of $0.80 for the quarter, down from their prior forecast of $0.95. KeyCorp also issued estimates for Multi-Color Corporation’s Q2 2018 earnings at $1.10 EPS and Q4 2018 earnings at $1.13 EPS.
Multi-Color Corporation (NASDAQ:LABL) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.06. The company had revenue of $242.40 million for the quarter, compared to analyst estimates of $242.47 million. Multi-Color Corporation had a return on equity of 16.99% and a net margin of 6.61%. Multi-Color Corporation’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. COPYRIGHT VIOLATION WARNING: “KeyCorp Research Analysts Cut Earnings Estimates for Multi-Color Corporation (LABL)” was first posted by Daily Political and is the property of of Daily Political. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.dailypolitical.com/2017/08/09/keycorp-research-analysts-cut-earnings-estimates-for-multi-color-corporation-labl.html.
A number of other equities research analysts also recently commented on LABL. Zacks Investment Research downgraded Multi-Color Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub downgraded Multi-Color Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Multi-Color Corporation presently has a consensus rating of “Hold” and an average price target of $78.60.
Shares of Multi-Color Corporation (NASDAQ:LABL) traded down 0.31% during trading on Monday, reaching $79.35. The company’s stock had a trading volume of 21,290 shares. The company has a market capitalization of $1.35 billion, a PE ratio of 22.16 and a beta of 0.83. The stock has a 50 day moving average of $81.43 and a 200-day moving average of $77.22. Multi-Color Corporation has a 1-year low of $63.05 and a 1-year high of $88.25.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. Multi-Color Corporation’s dividend payout ratio is currently 5.59%.
In related news, Director Charles B. Connolly sold 8,700 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $85.06, for a total value of $740,022.00. Following the sale, the director now owns 3,470 shares in the company, valued at approximately $295,158.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nigel A. Vinecombe sold 25,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $1,236,154.51. The disclosure for this sale can be found here. Insiders sold 38,700 shares of company stock worth $3,330,772 in the last 90 days. Company insiders own 19.40% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Teachers Advisors LLC increased its stake in Multi-Color Corporation by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 22,109 shares of the business services provider’s stock valued at $1,716,000 after buying an additional 1,103 shares in the last quarter. First National Bank of Omaha increased its stake in Multi-Color Corporation by 18.2% in the first quarter. First National Bank of Omaha now owns 44,401 shares of the business services provider’s stock valued at $3,152,000 after buying an additional 6,842 shares in the last quarter. Capstone Asset Management Co. increased its stake in Multi-Color Corporation by 29.2% in the first quarter. Capstone Asset Management Co. now owns 3,979 shares of the business services provider’s stock valued at $283,000 after buying an additional 899 shares in the last quarter. Atria Investments LLC increased its stake 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 in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Multi-Color Corporation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the business services provider’s stock valued at $383,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 77.01% of the company’s stock.
About Multi-Color Corporation
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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