Avery Dennison (AVY) Scheduled to Post Quarterly Earnings on Wednesday

Avery Dennison (NYSE:AVY) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, October 23rd. Analysts expect the company to announce earnings of $2.32 per share for the quarter. Avery Dennison has set its FY 2024 guidance at 9.300-9.500 EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Avery Dennison (NYSE:AVY) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. On average, analysts expect Avery Dennison to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $217.33 on Monday. The firm has a market cap of $17.51 billion, a P/E ratio of 31.73, a PEG ratio of 1.78 and a beta of 0.88. Avery Dennison has a twelve month low of $165.21 and a twelve month high of $233.48. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $216.80 and a 200 day moving average of $218.75.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.88 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.62%. Avery Dennison’s payout ratio is 51.39%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVY. Barclays initiated coverage on Avery Dennison in a research note on Monday, October 7th. They issued an “overweight” rating and a $250.00 price target on the stock. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price target for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. BMO Capital Markets reissued an “outperform” rating and issued a $252.00 price objective (down previously from $254.00) on shares of Avery Dennison in a report on Thursday, September 19th. Truist Financial upped their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup dropped their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $246.78.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $65,004,367.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 in the last three months. Company 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.