Avery Dennison (AVY) to Release Quarterly Earnings on Wednesday

Avery Dennison (NYSE:AVY) is set to release its earnings data before the market opens on Wednesday, April 24th. Analysts expect Avery Dennison to post earnings of $2.15 per share for the quarter. Avery Dennison has set its FY 2024 guidance at 9.000-9.500 EPS and its FY24 guidance at $9.00-9.50 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting analysts’ consensus estimates of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter last year, the business posted $1.65 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts expect Avery Dennison to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Avery Dennison Stock Up 0.1 %

AVY stock opened at $211.77 on Tuesday. Avery Dennison has a twelve month low of $158.93 and a twelve month high of $225.26. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23. The firm has a market cap of $17.05 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 3.27 and a beta of 0.90. The business has a 50 day moving average of $215.07 and a 200 day moving average of $199.73.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 52.17%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVY. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lifted their target price on Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. UBS Group lifted their target price on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Truist Financial reaffirmed a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. Finally, Bank of America lowered Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective for the company. in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $221.00.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the sale, the director now directly owns 5,018 shares in the company, valued at $1,014,940.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares in the company, valued at $69,878,414.32. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock worth $4,217,705 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.