Avery Dennison (AVY) Scheduled to Post Earnings on Wednesday

Avery Dennison (NYSE:AVY - Get Free Report) is set to post its quarterly earnings results before the market opens on Wednesday, October 23rd. Analysts expect Avery Dennison to post earnings of $2.32 per share for the quarter. Avery Dennison has set its FY 2024 guidance at 9.300-9.500 EPS.Investors interested in listening to the company's conference call can do so using this link.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.16. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company's revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 EPS. 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 0.3 %

AVY opened at $219.86 on Wednesday. Avery Dennison has a 1 year low of $165.21 and a 1 year high of $233.48. The firm has a 50 day moving average price of $216.15 and a 200 day moving average price of $218.86. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The company has a market cap of $17.71 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Wednesday, September 4th. Avery Dennison's payout ratio is currently 51.39%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AVY shares. Truist Financial upped their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Stifel Nicolaus initiated coverage on Avery Dennison in a report on Tuesday, July 9th. They set a "buy" rating and a $274.60 target price on the stock. BMO Capital Markets reissued an "outperform" rating and set a $252.00 price target (down from $254.00) on shares of Avery Dennison in a research report on Thursday, September 19th. UBS Group downgraded shares of Avery Dennison from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Finally, Citigroup decreased their target price on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating for the company in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $242.96.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was 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 in the company, valued at $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the business's stock in a transaction 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 completion of the sale, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total transaction of $2,142,100.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $65,144,259.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,108 shares of company stock worth $12,545,087. Corporate insiders own 1.10% of the company's stock.

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.