Avery Dennison (AVY) Scheduled to Post Earnings on Wednesday

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

Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.16. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.92 EPS. 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 Stock Performance

Shares of AVY stock opened at $219.86 on Wednesday. The company has a market capitalization of $17.71 billion, a P/E ratio of 32.10, a P/E/G ratio of 1.78 and a beta of 0.88. Avery Dennison has a 12-month low of $165.21 and a 12-month high of $233.48. The business’s 50 day moving average is $216.15 and its two-hundred day moving average is $218.86. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, September 4th. Avery Dennison’s payout ratio is presently 51.39%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and set a $252.00 price target (down from $254.00) on shares of Avery Dennison in a research report on Thursday, September 19th. Truist Financial boosted their price objective on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and cut their target price for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Citigroup lowered 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 report on Wednesday, October 2nd. Finally, Stifel Nicolaus assumed coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $242.96.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $65,004,367.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock worth $12,545,087 over the last ninety days. Company 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.