Analysts predict that Multi-Color Corporation (NASDAQ:LABL) will announce sales of $245.80 million for the current quarter, according to Zacks. Two analysts have made estimates for Multi-Color Corporation’s earnings, with the highest sales estimate coming in at $248.00 million and the lowest estimate coming in at $243.60 million. Multi-Color Corporation reported sales of $236.49 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.9%. The firm is scheduled to report its next quarterly earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that Multi-Color Corporation will report full year sales of $245.80 million for the current year, with estimates ranging from $950.50 million to $968.00 million. For the next year, analysts forecast that the business will report sales of $985.65 million per share, with estimates ranging from $974.30 million to $997.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Multi-Color Corporation.
Multi-Color Corporation (NASDAQ:LABL) last released its quarterly earnings data on Tuesday, May 30th. The business services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.13. Multi-Color Corporation had a return on equity of 16.99% and a net margin of 6.61%. The firm had revenue of $244 million during the quarter, compared to analyst estimates of $235.95 million. During the same period in the prior year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year.
Several equities analysts have weighed in on LABL shares. Zacks Investment Research raised Multi-Color Corporation from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Friday, June 2nd. BidaskClub cut Multi-Color Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $78.60.
In other news, CFO Sharon E. Birkett sold 5,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $86.20, for a total transaction of $431,000.00. Following the completion of the transaction, the chief financial officer now owns 6,342 shares of the company’s stock, valued at approximately $546,680.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the director now directly owns 3,470 shares of the company’s stock, valued at approximately $295,158.20. The disclosure for this sale can be found here. Insiders sold a total of 38,700 shares of company stock valued at $3,330,772 over the last ninety days. Insiders own 19.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Aberdeen Asset Management PLC UK boosted its position in Multi-Color Corporation by 11.4% in the first quarter. Aberdeen Asset Management PLC UK now owns 781,972 shares of the business services provider’s stock worth $55,520,000 after buying an additional 79,974 shares during the period. BNP Paribas Arbitrage SA boosted 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 worth $175,000 after buying an additional 236 shares during the period. Sei Investments Co. boosted its position in Multi-Color Corporation by 19.3% in the first quarter. Sei Investments Co. now owns 13,053 shares of the business services provider’s stock worth $926,000 after buying an additional 2,111 shares during the period. Teachers Advisors LLC boosted its position 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 worth $1,716,000 after buying an additional 1,103 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position 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 worth $383,000 after buying an additional 100 shares during the period. 76.38% of the stock is owned by institutional investors.
Multi-Color Corporation (NASDAQ LABL) traded up 0.053% on Friday, reaching $79.342. The company’s stock had a trading volume of 72,989 shares. The company has a 50-day moving average price of $83.23 and a 200 day moving average price of $77.06. Multi-Color Corporation has a 12 month low of $62.51 and a 12 month high of $88.25. The company has a market cap of $1.34 billion, a P/E ratio of 22.163 and a beta of 0.83.
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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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