Wall Street brokerages predict that Avery Dennison Corp (NYSE:AVY) will announce $1.34 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Avery Dennison’s earnings, with estimates ranging from $1.28 to $1.39. Avery Dennison reported earnings of $1.11 per share in the same quarter last year, which indicates a positive year over year growth rate of 20.7%. The company is scheduled to report its next quarterly earnings report before the market opens on Wednesday, April 25th.
According to Zacks, analysts expect that Avery Dennison will report full year earnings of $5.88 per share for the current year, with EPS estimates ranging from $5.85 to $5.95. For the next year, analysts expect 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 calculations are an average based on a survey of research analysts that cover Avery Dennison.
Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.25 by $0.08. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the company earned $0.99 EPS. The firm’s revenue was up 11.9% compared to the same quarter last year.
AVY has been the subject of several analyst reports. Barclays raised their target price on Avery Dennison from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. UBS assumed coverage on Avery Dennison in a research report on Thursday, January 18th. They set a “buy” rating and a $135.00 price target for the company. Bank of America lifted their price target on Avery Dennison from $128.00 to $133.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Zacks Investment Research downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, JPMorgan Chase downgraded Avery Dennison from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $113.00 to $107.00 in a research report on Friday, March 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Avery Dennison currently has an average rating of “Buy” and a consensus price target of $123.67.
Shares of NYSE AVY opened at $107.68 on Friday. Avery Dennison has a 52 week low of $80.12 and a 52 week high of $123.67. The company has a quick ratio of 0.83, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $9,318.59, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.58 and a beta of 1.25.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.67%. Avery Dennison’s dividend payout ratio (DPR) is presently 36.00%.
In related news, VP Anne Hill sold 21,134 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $118.07, for a total transaction of $2,495,291.38. Following the transaction, the vice president now directly owns 41,863 shares of the company’s stock, valued at approximately $4,942,764.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Susan C. Miller sold 3,131 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $120.33, for a total value of $376,753.23. Following the transaction, the vice president now directly owns 29,257 shares in the company, valued at $3,520,494.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 166,409 shares of company stock valued at $18,288,509. Corporate insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. West Oak Capital LLC raised its holdings in shares of Avery Dennison by 114.3% during the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock valued at $172,000 after buying an additional 800 shares in the last quarter. Focused Wealth Management Inc purchased a new position in shares of Avery Dennison during the 4th quarter valued at about $184,000. Univest Corp of Pennsylvania purchased a new position in shares of Avery Dennison during the 4th quarter valued at about $205,000. Bank of Stockton purchased a new position in shares of Avery Dennison during the 4th quarter valued at about $206,000. Finally, Meridian Investment Counsel Inc. purchased a new position in shares of Avery Dennison during the 4th quarter valued at about $206,000. 85.91% of the stock is currently owned by institutional investors.
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About Avery Dennison
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. 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. It also offers durable cast and reflective films.
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