Avery Dennison (AVY) to Release Quarterly Earnings on Wednesday

Avery Dennison (NYSE:AVY - Get Free Report) will issue its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $2.15 per share for the quarter. Avery Dennison has set its FY 2024 guidance at 9.000-9.500 EPS and its FY24 guidance at $9.00-9.50 EPS.Individual that are interested in participating in the company's earnings conference call can do so using this link.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The company had revenue of $2.11 billion for the quarter, compared to analysts' expectations of $2.10 billion. During the same period in the prior year, the firm earned $1.65 EPS. Avery Dennison's quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts expect Avery Dennison to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Avery Dennison Stock Performance

Avery Dennison stock traded down $2.17 during midday trading on Wednesday, reaching $208.92. 431,508 shares of the company's stock were exchanged, compared to its average volume of 429,972. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. The stock's 50-day simple moving average is $214.59 and its 200 day simple moving average is $198.92. The firm has a market cap of $16.82 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 3.25 and a beta of 0.90. Avery Dennison has a 52 week low of $158.93 and a 52 week high of $225.26.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison's payout ratio is presently 52.17%.

Insider Activity at Avery Dennison

In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the sale, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the company's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares of the company's stock, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. Insiders sold a total of 19,879 shares of company stock valued at $4,217,705 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AVY. Vanguard Group Inc. raised its position in Avery Dennison by 0.3% in the first quarter. Vanguard Group Inc. now owns 9,674,317 shares of the industrial products company's stock valued at $1,683,041,000 after purchasing an additional 24,670 shares during the last quarter. BlackRock Inc. grew its holdings in Avery Dennison by 0.6% during the 1st quarter. BlackRock Inc. now owns 6,555,514 shares of the industrial products company's stock worth $1,172,978,000 after acquiring an additional 41,032 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Avery Dennison by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,242,669 shares of the industrial products company's stock valued at $405,923,000 after acquiring an additional 39,266 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Avery Dennison by 8.1% in the fourth quarter. Lazard Asset Management LLC now owns 2,046,007 shares of the industrial products company's stock worth $370,326,000 after purchasing an additional 153,211 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in Avery Dennison by 102,432.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,947,083 shares of the industrial products company's stock worth $352,422,000 after buying an additional 1,945,184 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. Raymond James upped their target price on Avery Dennison from $199.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, January 25th. StockNews.com cut Avery Dennison from a "buy" rating to a "hold" rating in a report on Wednesday, March 27th. UBS Group upped their price objective on Avery Dennison from $225.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, January 11th. Finally, Bank of America cut shares of Avery Dennison from a "buy" rating to an "underperform" rating and set a $208.00 target price for the company. in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $221.00.

Avery Dennison Company Profile

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.