Avery Dennison Corp (AVY) Issues FY14 Earnings Guidance
Avery Dennison Corp (NYSE:AVY) issued an update on its FY14 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.90-3.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.04, AnalystRatingsNetwork.com reports.
Avery Dennison Corp (NYSE:AVY) traded up 0.36% during mid-day trading on Wednesday, hitting $49.70. The stock had a trading volume of 360,020 shares. Avery Dennison Corp has a 1-year low of $38.80 and a 1-year high of $52.17. The stock has a 50-day moving average of $49.62 and a 200-day moving average of $46.8. The company has a market cap of $4.895 billion and a price-to-earnings ratio of 22.98.
Avery Dennison Corp (NYSE:AVY) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts predict that Avery Dennison Corp will post $3.04 earnings per share 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 2.34%. The ex-dividend date of this dividend is Monday, March 3rd.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a neutral rating on shares of Avery Dennison Corp in a research note on Tuesday, February 4th. They now have a $52.00 price target on the stock. On a related note, analysts at Barclays raised their price target on shares of Avery Dennison Corp from $50.00 to $52.00 in a research note on Monday, February 3rd. They now have an equal weight rating on the stock. Finally, analysts at Topeka Capital Markets upgraded shares of Avery Dennison Corp from a hold rating to a buy rating in a research note on Friday, January 10th. They now have a $59.00 price target on the stock. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $52.83.
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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