Avery Dennison FY2024 EPS Forecast Boosted by Zacks Research

Avery Dennison Co. (NYSE:AVY - Free Report) - Equities research analysts at Zacks Research increased their FY2024 earnings estimates for Avery Dennison in a report released on Wednesday, November 6th. Zacks Research analyst M. Das now expects that the industrial products company will post earnings per share of $9.42 for the year, up from their previous forecast of $9.40. The consensus estimate for Avery Dennison's current full-year earnings is $9.41 per share. Zacks Research also issued estimates for Avery Dennison's Q1 2025 earnings at $2.36 EPS, Q2 2025 earnings at $2.55 EPS, Q3 2025 earnings at $2.61 EPS, Q4 2025 earnings at $2.72 EPS, FY2025 earnings at $10.24 EPS, Q1 2026 earnings at $2.72 EPS, Q2 2026 earnings at $2.80 EPS, Q3 2026 earnings at $2.82 EPS and FY2026 earnings at $11.21 EPS.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.10 EPS.

A number of other research firms have also recently commented on AVY. BMO Capital Markets decreased their target price on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. cut Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Barclays reduced their target price on shares of Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and raised their target price for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Finally, StockNews.com cut Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and an average price target of $244.96.

Avery Dennison Price Performance

Shares of Avery Dennison stock traded down $1.09 during trading hours on Monday, reaching $204.02. 157,988 shares of the company's stock were exchanged, compared to its average volume of 466,430. Avery Dennison has a 1 year low of $178.29 and a 1 year high of $233.48. The company has a market capitalization of $16.39 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.57 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average of $214.56 and a two-hundred day moving average of $218.09.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AVY. Innealta Capital LLC bought a new stake in shares of Avery Dennison in the second quarter worth about $28,000. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison during the third quarter valued at $36,000. Peterson Financial Group Inc. purchased a new position in shares of Avery Dennison during the third quarter valued at approximately $39,000. Ashton Thomas Private Wealth LLC purchased a new stake in Avery Dennison in the second quarter worth about $42,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Avery Dennison during the second quarter valued at approximately $51,000. Institutional investors own 94.17% of the company's stock.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $211.91, for a total value of $2,119,100.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company's stock, valued at $64,444,797.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the sale, the chairman now owns 304,114 shares of the company's stock, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $211.91, for a total value of $2,119,100.00. Following the sale, the chairman now owns 304,114 shares of the company's stock, valued at approximately $64,444,797.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,108 shares of company stock worth $7,940,597. Company insiders own 1.10% of the company's stock.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison's dividend payout ratio is presently 42.26%.

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.