Analysts forecast that Avery Dennison Corporation (NYSE:AVY) will announce $1.60 billion in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Avery Dennison Corporation’s earnings, with the lowest sales estimate coming in at $1.57 billion and the highest estimate coming in at $1.62 billion. Avery Dennison Corporation reported sales of $1.54 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The firm is expected to report its next earnings results on Tuesday, July 25th.
On average, analysts expect that Avery Dennison Corporation will report full-year sales of $1.60 billion for the current financial year, with estimates ranging from $6.21 billion to $6.49 billion. For the next financial year, analysts forecast that the business will report sales of $6.52 billion per share, with estimates ranging from $6.36 billion to $6.74 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Avery Dennison Corporation.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.07. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.53 billion. Avery Dennison Corporation had a net margin of 5.56% and a return on equity of 38.48%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 EPS.
AVY has been the topic of a number of recent analyst reports. Bank of America Corporation raised shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $96.00 in a research note on Tuesday, June 20th. Zacks Investment Research downgraded shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Barclays PLC reaffirmed an “overweight” rating and set a $96.00 price target (up previously from $95.00) on shares of Avery Dennison Corporation in a research note on Monday, May 1st. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a research note on Wednesday, April 26th. Finally, Aegis reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a research note on Thursday, June 1st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Avery Dennison Corporation presently has a consensus rating of “Buy” and a consensus target price of $88.40.
Avery Dennison Corporation (AVY) traded up 1.09% during mid-day trading on Wednesday, hitting $89.03. 130,996 shares of the stock traded hands. The stock’s 50 day moving average is $84.12 and its 200-day moving average is $79.05. Avery Dennison Corporation has a 12 month low of $68.55 and a 12 month high of $89.51. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 23.38 and a beta of 1.11.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, June 5th. This represents a $1.80 annualized dividend and a dividend yield of 2.04%. This is a positive change from Avery Dennison Corporation’s previous quarterly dividend of $0.41. Avery Dennison Corporation’s dividend payout ratio is presently 47.37%.
In other news, VP Deon Stander sold 5,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $84.50, for a total value of $422,500.00. Following the completion of the sale, the vice president now owns 10,998 shares of the company’s stock, valued at $929,331. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anthony Anderson sold 6,248 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $85.15, for a total transaction of $532,017.20. Following the completion of the sale, the director now directly owns 1,244 shares of the company’s stock, valued at approximately $105,926.60. The disclosure for this sale can be found here. Insiders sold 12,198 shares of company stock valued at $1,034,716 in the last three months. Company insiders own 1.40% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new stake in Avery Dennison Corporation during the first quarter valued at about $105,000. Van ECK Associates Corp raised its stake in Avery Dennison Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock valued at $107,000 after buying an additional 94 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Avery Dennison Corporation by 21.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,737 shares of the industrial products company’s stock valued at $140,000 after buying an additional 303 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Avery Dennison Corporation during the first quarter valued at about $171,000. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Avery Dennison Corporation by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,373 shares of the industrial products company’s stock valued at $179,000 after buying an additional 107 shares during the last quarter. 89.40% of the stock is owned by institutional investors.
Avery Dennison Corporation 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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