Zacks: Brokerages Anticipate Avery Dennison Corp (AVY) Will Announce Earnings of $1.25 Per Share

Wall Street analysts expect Avery Dennison Corp (NYSE:AVY) to post earnings of $1.25 per share for the current quarter, according to Zacks. Three analysts have made estimates for Avery Dennison’s earnings, with estimates ranging from $1.22 to $1.27. Avery Dennison posted earnings per share of $0.99 in the same quarter last year, which suggests a positive year-over-year growth rate of 26.3%. The firm is scheduled to report its next quarterly earnings results before the market opens on Wednesday, January 31st.

According to Zacks, analysts expect that Avery Dennison will report full year earnings of $4.93 per share for the current year, with EPS estimates ranging from $4.90 to $4.95. For the next financial year, analysts expect that the firm will report earnings of $5.46 per share, with EPS estimates ranging from $5.40 to $5.50. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Avery Dennison.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.05. Avery Dennison had a return on equity of 39.41% and a net margin of 6.45%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $1.01 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis.

A number of research analysts recently issued reports on the company. UBS Group assumed coverage on Avery Dennison in a research report on Thursday. They set a “buy” rating and a $135.00 price objective for the company. Zacks Investment Research upgraded Avery Dennison from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research report on Monday, January 8th. Barclays boosted their price objective on Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. KeyCorp restated a “hold” rating on shares of Avery Dennison in a research report on Monday, October 30th. Finally, Robert W. Baird restated a “buy” rating and set a $115.00 price objective on shares of Avery Dennison in a research report on Friday, October 27th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $116.00.

In other Avery Dennison news, Chairman Dean A. Scarborough sold 10,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $104.54, for a total transaction of $1,045,400.00. Following the completion of the transaction, the chairman now owns 94,042 shares in the company, valued at approximately $9,831,150.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter K. Barker sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total value of $229,520.00. Following the transaction, the director now owns 26,703 shares of the company’s stock, valued at approximately $3,064,436.28. The disclosure for this sale can be found here. Insiders have sold a total of 154,604 shares of company stock valued at $16,475,271 in the last quarter. 1.40% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in AVY. West Oak Capital LLC boosted its position in Avery Dennison by 114.3% during the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 800 shares during the period. Conning Inc. acquired a new position in Avery Dennison during the 3rd quarter worth $200,000. Davidson & Garrard Inc. acquired a new position in Avery Dennison during the 3rd quarter worth $202,000. Cambridge Investment Research Advisors Inc. acquired a new position in Avery Dennison during the 2nd quarter worth $207,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Avery Dennison during the 3rd quarter worth $213,000. Institutional investors own 84.92% of the company’s stock.

Avery Dennison (NYSE AVY) traded up $0.71 during trading hours on Friday, reaching $121.34. The company had a trading volume of 684,988 shares, compared to its average volume of 585,908. Avery Dennison has a twelve month low of $71.71 and a twelve month high of $123.20. The firm has a market cap of $10,680.00, a price-to-earnings ratio of 27.08, a P/E/G ratio of 3.16 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.13 and a debt-to-equity ratio of 1.14.

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About Avery Dennison

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

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