Avery Dennison (AVY) to Release Quarterly Earnings on Wednesday

Avery Dennison (NYSE:AVY) will announce its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce 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.Investors interested in registering for the company’s conference call can do so using this link.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.65 earnings per share. 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 Trading Up 0.1 %

Shares of AVY stock opened at $211.77 on Tuesday. The firm has a 50 day moving average price of $215.07 and a two-hundred day moving average price of $199.73. 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 company has a market capitalization 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. Avery Dennison has a 12-month low of $158.93 and a 12-month high of $225.26.

Avery Dennison Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday. Citigroup lifted their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. UBS Group lifted their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Truist Financial reissued a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a research note on Friday, January 19th. Finally, Raymond James upped their target price on Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.00.

Insider Transactions at Avery Dennison

In other news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the transaction, the director now directly owns 5,018 shares in the company, valued at $1,014,940.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the transaction, the director now directly owns 5,018 shares in the company, valued at $1,014,940.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ignacio J. Walker sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the transaction, the senior vice president now owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,879 shares of company stock worth $4,217,705. Corporate insiders own 1.10% of the company’s stock.

About Avery Dennison

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.