Equities analysts expect that Avery Dennison Corp (NYSE:AVY) will post $1.34 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Avery Dennison’s earnings. The lowest EPS estimate is $1.28 and the highest is $1.39. Avery Dennison posted earnings per share of $1.11 during the same quarter last year, which suggests a positive year over year growth rate of 20.7%. The business is expected to report its next quarterly earnings report on Wednesday, April 25th.
On average, analysts expect that Avery Dennison will report full-year earnings of $5.88 per share for the current financial year, with EPS estimates ranging from $5.85 to $5.95. For the next year, analysts forecast that the company will report earnings of $6.38 per share, with EPS estimates ranging from $6.15 to $6.55. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that that provide coverage for Avery Dennison.
Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.08. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Avery Dennison had a net margin of 4.26% and a return on equity of 42.26%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS.
AVY has been the topic of several research analyst reports. Barclays increased their price target on shares of Avery Dennison from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Zacks Investment Research cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Bank of America increased their price target on shares of Avery Dennison from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 1st. UBS Group initiated coverage on shares of Avery Dennison in a report on Thursday, January 18th. They issued a “buy” rating and a $135.00 price target on the stock. Finally, JPMorgan Chase & Co. raised shares of Avery Dennison from an “underweight” rating to a “neutral” rating in a report on Monday, February 12th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $122.75.
Avery Dennison (AVY) traded down $0.83 during trading on Monday, reaching $116.52. 507,409 shares of the company’s stock traded hands, compared to its average volume of 772,025. The company has a market cap of $10,250.00, a PE ratio of 22.98, a P/E/G ratio of 2.85 and a beta of 1.20. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.13. Avery Dennison has a 52-week low of $78.47 and a 52-week high of $123.67.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.54%. Avery Dennison’s dividend payout ratio is presently 35.50%.
In other news, Director Anthony Anderson sold 2,770 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $117.50, for a total transaction of $325,475.00. Following the transaction, the director now directly owns 4,014 shares of the company’s stock, valued at $471,645. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter K. Barker sold 2,000 shares of Avery Dennison stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $114.76, for a total transaction of $229,520.00. Following the completion of the transaction, the director now directly owns 26,703 shares in the company, valued at $3,064,436.28. The disclosure for this sale can be found here. Insiders have sold 36,535 shares of company stock worth $4,316,315 over the last ninety days. Insiders own 1.40% of the company’s stock.
A number of large investors have recently made changes to their positions in AVY. Crossmark Global Holdings Inc. bought a new position in Avery Dennison in the third quarter valued at approximately $859,000. Canada Pension Plan Investment Board increased its stake in Avery Dennison by 350,000.0% in the third quarter. Canada Pension Plan Investment Board now owns 35,010 shares of the industrial products company’s stock valued at $3,443,000 after acquiring an additional 35,000 shares during the last quarter. State of Wisconsin Investment Board increased its stake in Avery Dennison by 11.1% in the third quarter. State of Wisconsin Investment Board now owns 94,871 shares of the industrial products company’s stock valued at $9,330,000 after acquiring an additional 9,462 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Avery Dennison by 7.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 21,499 shares of the industrial products company’s stock valued at $2,114,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Swiss National Bank increased its stake in Avery Dennison by 0.3% in the third quarter. Swiss National Bank now owns 327,256 shares of the industrial products company’s stock valued at $32,182,000 after acquiring an additional 1,100 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.
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Avery Dennison Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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