Avery Dennison (AVY) Set to Announce Quarterly Earnings on Wednesday

by · The Markets Daily

Avery Dennison (NYSE:AVY – Get Free Report) will be releasing its earnings data before the market opens on Wednesday, October 23rd. Analysts expect Avery Dennison to post earnings of $2.32 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Avery Dennison (NYSE:AVY – Get Free Report) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the company earned $1.92 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts expect Avery Dennison to post $9 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Avery Dennison Stock Down 0.9 %

NYSE AVY opened at $215.41 on Tuesday. The business has a fifty day moving average price of $216.96 and a two-hundred day moving average price of $218.74. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. Avery Dennison has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The stock has a market capitalization of $17.35 billion, a PE ratio of 31.45, a PEG ratio of 1.78 and a beta of 0.88.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Wednesday, September 4th. Avery Dennison’s payout ratio is presently 51.39%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock valued at $12,545,087 in the last three months. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AVY. Barclays began coverage on Avery Dennison in a research note on Monday, October 7th. They issued an “overweight” rating and a $250.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $252.00 price target (down from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Citigroup dropped their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Stifel Nicolaus began coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target for the company. Finally, Truist Financial increased their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $246.78.

Get Our Latest Analysis on Avery Dennison

Avery Dennison Company Profile

(Get Free Report)

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.

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