Avery Dennison Corp. (AVY) Issues FY14 Earnings Guidance
Avery Dennison Corp. (NYSE:AVY) updated its FY14 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.90-3.20 for the period, compared to the Thomson Reuters consensus estimate of $3.07, American Banking & Market News reports.
Several analysts have recently commented on the stock. Analysts at Topeka Capital Markets upgraded shares of Avery Dennison Corp. from a hold rating to a buy rating in a research note to investors on Friday, January 10th. They now have a $59.00 price target on the stock. They noted that the move was a valuation call. On a related note, analysts at Robert W. Baird upgraded shares of Avery Dennison Corp. from a neutral rating to an outperform rating in a research note to investors on Thursday, January 9th. They now have a $57.00 price target on the stock, up previously from $52.00. They noted that the move was a valuation call. Finally, analysts at Ned Davis Research upgraded shares of Avery Dennison Corp. from a neutral rating to a buy rating in a research note to investors on Monday, December 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $52.17.
Avery Dennison Corp. (NYSE:AVY) traded down 1.29% on Friday, hitting $49.08. The stock had a trading volume of 267,771 shares. Avery Dennison Corp. has a one year low of $38.10 and a one year high of $52.17. The stock has a 50-day moving average of $49.96 and a 200-day moving average of $46.43. The company has a market cap of $4.742 billion and a price-to-earnings ratio of 22.71.
Avery Dennison Corp. (NYSE:AVY) last announced its earnings results on Friday, January 31st. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $0.01. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts expect that Avery Dennison Corp. will post $2.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of 0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Monday, March 3rd.
Avery Dennison Corporation (NYSE:AVY), is engaged in the production of pressure-sensitive materials, and a variety of tickets, tags, labels other converted products, and office and consumer products through embossing, printing, stamping and die-cutting.
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