Brokerages expect Avery Dennison Corp (NYSE:AVY) to announce $1.75 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Avery Dennison’s earnings. The lowest sales estimate is $1.74 billion and the highest is $1.77 billion. Avery Dennison reported sales of $1.78 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 1.7%. The business is scheduled to issue its next earnings results on Wednesday, April 24th.
On average, analysts expect that Avery Dennison will report full year sales of $7.26 billion for the current fiscal year, with estimates ranging from $7.20 billion to $7.36 billion. For the next fiscal year, analysts expect that the company will report sales of $7.46 billion, with estimates ranging from $7.32 billion to $7.62 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Avery Dennison.
Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, January 30th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. Avery Dennison had a net margin of 6.53% and a return on equity of 52.22%. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis.
AVY has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Avery Dennison from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. BMO Capital Markets boosted their price target on shares of Avery Dennison to $114.00 and gave the stock a “market perform” rating in a research note on Monday, February 4th. UBS Group set a $125.00 price target on shares of Avery Dennison and gave the stock a “buy” rating in a research note on Friday, January 18th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and set a $105.00 price target for the company. in a research note on Friday, March 15th. They noted that the move was a valuation call. Finally, ValuEngine raised shares of Avery Dennison from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $119.50.
In other Avery Dennison news, Director Peter K. Barker sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $104.51, for a total value of $209,020.00. Following the completion of the sale, the director now owns 29,769 shares of the company’s stock, valued at $3,111,158.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia A. Stewart sold 5,027 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $104.19, for a total transaction of $523,763.13. The disclosure for this sale can be found here. Insiders sold 235,664 shares of company stock valued at $25,593,024 in the last ninety days. Insiders own 1.30% of the company’s stock.
A number of large investors have recently modified their holdings of AVY. Wealthcare Advisory Partners LLC increased its stake in Avery Dennison by 90.7% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 136 shares in the last quarter. CSat Investment Advisory L.P. increased its stake in Avery Dennison by 60.8% in the fourth quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 129 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Avery Dennison in the fourth quarter valued at approximately $40,000. Bremer Trust National Association bought a new stake in Avery Dennison in the fourth quarter valued at approximately $42,000. Finally, Ipswich Investment Management Co. Inc. bought a new stake in Avery Dennison in the fourth quarter valued at approximately $49,000. 86.85% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE AVY traded down $2.29 during trading on Wednesday, reaching $109.98. The company had a trading volume of 845,751 shares, compared to its average volume of 703,716. Avery Dennison has a 52 week low of $82.89 and a 52 week high of $116.35. The company has a market cap of $9.37 billion, a PE ratio of 18.15, a P/E/G ratio of 2.43 and a beta of 1.39. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 1.85.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 34.32%.
Avery Dennison Company Profile
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.
See Also: What is Cost of Capital?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Avery Dennison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison and related companies with MarketBeat.com's FREE daily email newsletter.