Avery Dennison (AVY) Set to Announce Earnings on Wednesday

Avery Dennison (NYSE:AVY) is set to announce its earnings results 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.Parties interested in listening to the company’s conference call can do so using this link.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 earnings per share. 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 current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. Avery Dennison has a 12-month low of $165.21 and a 12-month high of $233.48. The company has a market cap of $17.71 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. The stock has a 50 day simple moving average of $216.15 and a 200-day simple moving average of $218.86.

Avery Dennison Announces Dividend

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

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at $61,719,936.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the company’s 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 completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. This trade 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 over the last ninety days. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays began coverage on shares of Avery Dennison in a report on Monday, October 7th. They issued an “overweight” rating and a $250.00 target price for the company. Truist Financial boosted their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Citigroup lowered their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Stifel Nicolaus started coverage on Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $252.00 target price (down previously from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. One investment 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 currently has a consensus rating of “Moderate Buy” and an average target price of $242.96.

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.