Avery Dennison (AVY) Scheduled to Post Earnings on Wednesday

Avery Dennison (NYSE:AVY) will be posting its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect Avery Dennison to post 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.Parties interested in listening to the company’s conference call can do so using this link.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results 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 company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. Avery Dennison’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 EPS. 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 Down 0.1 %

NYSE:AVY opened at $211.11 on Wednesday. Avery Dennison has a 1 year low of $158.93 and a 1 year high of $225.26. The company has a market cap of $17.00 billion, a P/E ratio of 34.00, a P/E/G ratio of 3.25 and a beta of 0.90. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. The stock’s fifty day moving average price is $214.59 and its two-hundred day moving average price is $198.92.

Avery Dennison Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction dated 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 sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the sale, the director now directly owns 5,018 shares in the company, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. Insiders sold a total of 19,879 shares of company stock valued at $4,217,705 over the last 90 days. 1.10% of the stock is owned by company insiders.

Institutional Trading of Avery Dennison

A number of large investors have recently bought and sold shares of the business. Clear Street Markets LLC increased its stake in shares of Avery Dennison by 92.7% during the first quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 76 shares during the period. Milestone Investment Advisors LLC acquired a new position in shares of Avery Dennison in the 1st quarter valued at $35,000. IFP Advisors Inc grew its position in Avery Dennison by 56.3% during the second quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 72 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Avery Dennison during the 2nd quarter worth approximately $33,000. Finally, ICA Group Wealth Management LLC acquired a new stake in shares of Avery Dennison in the fourth quarter worth $44,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVY shares. Bank of America lowered Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective on the stock. in a research report on Tuesday, January 2nd. Citigroup raised their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. upped their price objective on Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Finally, UBS Group raised their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and an average price target of $221.00.

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.