Brokerages Expect Avery Dennison Corp (AVY) Will Announce Earnings of $1.68 Per Share

Wall Street brokerages predict that Avery Dennison Corp (NYSE:AVY) will report earnings of $1.68 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Avery Dennison’s earnings. The highest EPS estimate is $1.70 and the lowest is $1.65. Avery Dennison reported earnings of $1.66 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 1.2%. The business is scheduled to report its next quarterly earnings report on Tuesday, July 23rd.

According to Zacks, analysts expect that Avery Dennison will report full year earnings of $6.55 per share for the current financial year, with EPS estimates ranging from $6.50 to $6.60. For the next financial year, analysts expect that the firm will post earnings of $7.16 per share, with EPS estimates ranging from $6.89 to $7.35. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Avery Dennison.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, April 24th. The industrial products company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.77 billion. Avery Dennison had a net margin of 2.74% and a return on equity of 53.28%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.44 EPS.

Several research firms have recently weighed in on AVY. Zacks Investment Research downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a research report on Thursday, April 18th. BMO Capital Markets boosted their target price on shares of Avery Dennison to $114.00 and gave the stock a “market perform” rating in a research report on Monday, February 4th. Loop Capital downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. They noted that the move was a valuation call. Finally, KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Avery Dennison currently has a consensus rating of “Hold” and an average price target of $118.00.

Shares of AVY traded up $1.57 during midday trading on Friday, hitting $101.26. The company had a trading volume of 788,784 shares, compared to its average volume of 624,220. The company has a market capitalization of $8.55 billion, a P/E ratio of 16.71, a PEG ratio of 1.88 and a beta of 1.35. Avery Dennison has a 52 week low of $82.89 and a 52 week high of $117.00. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.80 and a current ratio of 1.14.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Tuesday, June 4th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.52. Avery Dennison’s dividend payout ratio is currently 34.32%.

In other Avery Dennison news, Director Dean A. Scarborough sold 100,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $109.17, for a total value of $10,917,000.00. Following the completion of the transaction, the director now owns 51,183 shares in the company, valued at approximately $5,587,648.11. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Deon Stander sold 7,500 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $109.51, for a total transaction of $821,325.00. Following the completion of the transaction, the vice president now owns 42,702 shares of the company’s stock, valued at approximately $4,676,296.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 238,328 shares of company stock valued at $25,927,220. Insiders own 1.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealthcare Advisory Partners LLC lifted its stake in shares of Avery Dennison by 90.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 136 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Avery Dennison by 73.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 226 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. CSat Investment Advisory L.P. lifted its position in shares of Avery Dennison by 60.8% in the 4th quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 129 shares in the last quarter. Icon Wealth Partners LLC purchased a new stake in shares of Avery Dennison in the 1st quarter valued at approximately $36,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Avery Dennison in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Avery Dennison Company Profile

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, 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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