Avery Dennison Corp (AVY) Expected to Post Quarterly Sales of $1.74 Billion

Wall Street analysts forecast that Avery Dennison Corp (NYSE:AVY) will report sales of $1.74 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Avery Dennison’s earnings, with estimates ranging from $1.69 billion to $1.78 billion. Avery Dennison reported sales of $1.57 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.8%. The company is expected to issue its next earnings results on Wednesday, April 25th.

According to Zacks, analysts expect that Avery Dennison will report full year sales of $1.74 billion for the current fiscal year, with estimates ranging from $6.90 billion to $7.31 billion. For the next year, analysts expect that the business will report sales of $7.29 billion per share, with estimates ranging from $7.15 billion to $7.49 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Avery Dennison.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.08. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the business posted $0.99 EPS. The business’s revenue was up 11.9% compared to the same quarter last year.

A number of brokerages have weighed in on AVY. Zacks Investment Research downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Tuesday. Bank of America increased their price target on Avery Dennison from $128.00 to $133.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. downgraded Avery Dennison from a “neutral” rating to an “underweight” rating and set a $113.00 target price for the company. in a research note on Thursday, February 1st. UBS Group assumed coverage on Avery Dennison in a research note on Thursday, January 18th. They issued a “buy” rating and a $135.00 target price for the company. Finally, Barclays raised their target price on Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Avery Dennison has an average rating of “Buy” and an average target price of $120.25.

Shares of Avery Dennison (NYSE AVY) opened at $114.78 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.83 and a debt-to-equity ratio of 1.26. Avery Dennison has a 1-year low of $78.47 and a 1-year high of $123.67. The firm has a market capitalization of $10,100.00, a PE ratio of 36.67, a price-to-earnings-growth ratio of 2.78 and a beta of 1.20.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.57%. Avery Dennison’s dividend payout ratio is presently 57.51%.

In other Avery Dennison news, CAO Lori J. Bondar sold 10,855 shares of Avery Dennison stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $110.88, for a total transaction of $1,203,602.40. Following the completion of the transaction, the chief accounting officer now owns 18,556 shares in the company, valued at approximately $2,057,489.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julia A. Stewart sold 4,000 shares of Avery Dennison stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $108.42, for a total value of $433,680.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,855 shares of company stock valued at $1,866,802. 1.40% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. ETRADE Capital Management LLC boosted its stake in Avery Dennison by 12.8% during the 3rd quarter. ETRADE Capital Management LLC now owns 20,961 shares of the industrial products company’s stock valued at $2,061,000 after purchasing an additional 2,377 shares during the last quarter. Piedmont Investment Advisors LLC boosted its stake in Avery Dennison by 77.6% during the 3rd quarter. Piedmont Investment Advisors LLC now owns 44,577 shares of the industrial products company’s stock valued at $4,384,000 after purchasing an additional 19,479 shares during the last quarter. Aurora Investment Counsel acquired a new position in Avery Dennison during the 4th quarter valued at about $565,000. KAMES CAPITAL plc acquired a new position in Avery Dennison during the 4th quarter valued at about $71,586,000. Finally, IFM Investors Pty Ltd acquired a new position in Avery Dennison during the 3rd quarter valued at about $317,000. Institutional investors and hedge funds own 85.88% of the company’s stock.

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Avery Dennison Company Profile

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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