Wall Street analysts expect Multi-Color Co. (NASDAQ:LABL) to report earnings of $1.12 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Multi-Color’s earnings, with the highest EPS estimate coming in at $1.12 and the lowest estimate coming in at $1.11. Multi-Color posted earnings of $0.98 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 14.3%. The business is scheduled to issue its next quarterly earnings results on Tuesday, May 29th.
According to Zacks, analysts expect that Multi-Color will report full-year earnings of $3.71 per share for the current financial year, with EPS estimates ranging from $3.64 to $3.75. For the next year, analysts anticipate that the company will post earnings of $4.40 per share, with EPS estimates ranging from $4.15 to $4.65. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Multi-Color.
LABL has been the topic of several research reports. BidaskClub raised shares of Multi-Color from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Zacks Investment Research raised shares of Multi-Color from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Friday, January 19th. BMO Capital Markets reduced their price objective on shares of Multi-Color from $88.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th. Robert W. Baird reduced their price objective on shares of Multi-Color from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, February 7th. Finally, Sidoti raised shares of Multi-Color from a “neutral” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Monday, March 5th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $77.40.
In related news, COO Oliver Apel purchased 1,100 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was acquired at an average price of $66.68 per share, with a total value of $73,348.00. Following the purchase, the chief operating officer now directly owns 1,100 shares in the company, valued at $73,348. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ari J. Benacerraf purchased 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was bought at an average cost of $65.20 per share, with a total value of $260,800.00. The disclosure for this purchase can be found here. 19.40% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in LABL. We Are One Seven LLC purchased a new position in Multi-Color in the 4th quarter worth approximately $128,000. Stone Ridge Asset Management LLC purchased a new position in Multi-Color in the 4th quarter worth approximately $201,000. Quantbot Technologies LP purchased a new position in Multi-Color in the 1st quarter worth approximately $215,000. Xact Kapitalforvaltning AB purchased a new position in Multi-Color in the 1st quarter worth approximately $216,000. Finally, Citigroup Inc. grew its stake in Multi-Color by 2,044.9% in the 1st quarter. Citigroup Inc. now owns 3,346 shares of the business services provider’s stock worth $221,000 after buying an additional 3,190 shares in the last quarter. 67.32% of the stock is owned by institutional investors and hedge funds.
Shares of Multi-Color traded down $0.20, hitting $63.75, during midday trading on Friday, according to MarketBeat Ratings. The company’s stock had a trading volume of 331,493 shares, compared to its average volume of 121,950. Multi-Color has a one year low of $61.50 and a one year high of $89.70. The company has a quick ratio of 1.41, a current ratio of 1.94 and a debt-to-equity ratio of 2.21. The firm has a market cap of $1.31 billion, a P/E ratio of 17.66 and a beta of 0.88.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.20 annualized dividend and a yield of 0.31%. Multi-Color’s dividend payout ratio is currently 5.54%.
Multi-Color Corporation provides various label solutions. The company offers pressure sensitive labels; in-mold labels; heat transfer labels; shrink sleeve labels; cut and stack glue-applied labels comprising peel-away promotional labels, thermochromics, holographics, and metalized films; and promotional products, such as scratch-off coupons, static-clings, and tags.
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