Avery Dennison Co. (NYSE:AVY) Expected to Announce Earnings of $2.39 Per Share

Brokerages expect that Avery Dennison Co. (NYSE:AVYGet Rating) will announce earnings of $2.39 per share for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Avery Dennison’s earnings. The highest EPS estimate is $2.51 and the lowest is $2.30. Avery Dennison posted earnings of $2.25 per share during the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Avery Dennison will report full year earnings of $9.71 per share for the current year, with EPS estimates ranging from $9.63 to $9.78. For the next year, analysts expect that the business will post earnings of $10.73 per share, with EPS estimates ranging from $10.22 to $11.60. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Avery Dennison.

Avery Dennison (NYSE:AVYGet Rating) last issued its earnings results on Tuesday, April 26th. The industrial products company reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.23. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.28 billion. Avery Dennison had a net margin of 8.37% and a return on equity of 40.50%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business earned $2.40 earnings per share.

AVY has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on shares of Avery Dennison in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Credit Suisse Group lowered their price target on shares of Avery Dennison from $195.00 to $188.00 in a report on Wednesday, April 20th. Truist Financial initiated coverage on shares of Avery Dennison in a report on Friday, March 25th. They issued a “buy” rating and a $227.00 price target on the stock. Loop Capital lowered their price target on shares of Avery Dennison from $209.00 to $202.00 and set a “buy” rating on the stock in a report on Wednesday, April 13th. Finally, Citigroup lowered their price target on shares of Avery Dennison from $255.00 to $247.00 in a report on Friday, April 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $216.00.

NYSE:AVY traded down $1.93 on Friday, reaching $177.34. 387,655 shares of the company’s stock were exchanged, compared to its average volume of 649,258. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.06 and a quick ratio of 0.71. The firm has a market cap of $14.49 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 2.64 and a beta of 0.93. Avery Dennison has a 52 week low of $156.51 and a 52 week high of $229.24. The stock has a fifty day simple moving average of $171.83 and a 200-day simple moving average of $194.52.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be paid a $0.75 dividend. This is an increase from Avery Dennison’s previous quarterly dividend of $0.68. This represents a $3.00 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, May 31st. Avery Dennison’s dividend payout ratio (DPR) is currently 31.16%.

Several hedge funds have recently bought and sold shares of AVY. CVA Family Office LLC purchased a new position in shares of Avery Dennison during the fourth quarter worth approximately $28,000. Quent Capital LLC purchased a new position in shares of Avery Dennison during the fourth quarter worth approximately $29,000. Capital Analysts LLC purchased a new position in shares of Avery Dennison during the fourth quarter worth approximately $30,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Avery Dennison during the fourth quarter worth approximately $31,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of Avery Dennison during the fourth quarter worth approximately $39,000. 88.83% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Company Profile (Get Rating)

Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. 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, as well as durable cast and reflective films.

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Earnings History and Estimates for Avery Dennison (NYSE:AVY)

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