Multi-Color (LABL) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Multi-Color (NASDAQ:LABL) posted its quarterly earnings data on Tuesday. The business services provider reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.01), Bloomberg Earnings reports. Multi-Color had a net margin of 6.08% and a return on equity of 13.02%. The business had revenue of $352.70 million during the quarter, compared to analysts’ expectations of $346.37 million. During the same period in the previous year, the business posted $0.70 EPS. The company’s revenue for the quarter was up 67.4% compared to the same quarter last year.
Shares of Multi-Color (NASDAQ LABL) opened at $69.13 on Thursday. The firm has a market cap of $1,363.39, a P/E ratio of 18.48 and a beta of 0.76. Multi-Color has a 1-year low of $63.05 and a 1-year high of $89.70. The company has a quick ratio of 1.48, a current ratio of 1.94 and a debt-to-equity ratio of 1.13.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.20 annualized dividend and a yield of 0.29%. Multi-Color’s dividend payout ratio (DPR) is 5.35%.
A number of hedge funds have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. raised its holdings in Multi-Color by 6.6% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 763,525 shares of the business services provider’s stock worth $57,149,000 after purchasing an additional 47,050 shares in the last quarter. Vanguard Group Inc. raised its holdings in Multi-Color by 3.7% during the second quarter. Vanguard Group Inc. now owns 715,059 shares of the business services provider’s stock worth $58,348,000 after purchasing an additional 25,470 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Multi-Color by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 660,588 shares of the business services provider’s stock worth $54,135,000 after purchasing an additional 13,868 shares in the last quarter. State Street Corp raised its holdings in Multi-Color by 4.0% during the second quarter. State Street Corp now owns 327,791 shares of the business services provider’s stock worth $26,748,000 after purchasing an additional 12,528 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its holdings in Multi-Color by 48.3% during the third quarter. Pictet Asset Management Ltd. now owns 170,151 shares of the business services provider’s stock worth $13,944,000 after purchasing an additional 55,428 shares in the last quarter. 63.76% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Multi-Color from a “buy” rating to a “hold” rating in a research note on Saturday, January 20th. Robert W. Baird reaffirmed a “hold” rating and issued a $85.00 target price on shares of Multi-Color in a report on Thursday, October 12th. BMO Capital Markets reaffirmed a “hold” rating and issued a $88.00 target price on shares of Multi-Color in a report on Wednesday, October 25th. BidaskClub raised shares of Multi-Color from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Finally, Hilliard Lyons raised shares of Multi-Color from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $76.75.
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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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