Brokerages expect Avery Dennison Corp (NYSE:AVY) to announce sales of $1.83 billion for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Avery Dennison’s earnings. The highest sales estimate is $1.85 billion and the lowest is $1.82 billion. Avery Dennison reported sales of $1.85 billion during the same quarter last year, which indicates a negative year over year growth rate of 1.1%. The business is expected to issue its next quarterly earnings results on Tuesday, July 23rd.

On average, analysts expect that Avery Dennison will report full year sales of $7.21 billion for the current year, with estimates ranging from $7.16 billion to $7.30 billion. For the next year, analysts anticipate that the firm will report sales of $7.43 billion, with estimates ranging from $7.35 billion to $7.56 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Avery Dennison.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.02. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.77 billion. Avery Dennison had a return on equity of 53.28% and a net margin of 2.74%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $1.44 EPS.

A number of research analysts have recently issued reports on the company. KeyCorp reaffirmed a “sector weight” rating and set a $110.00 price target on shares of Avery Dennison in a report on Sunday, April 7th. Zacks Investment Research downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Loop Capital downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. They noted that the move was a valuation call. JPMorgan Chase & Co. downgraded Avery Dennison from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a report on Thursday, April 18th. Finally, BMO Capital Markets upped their price target on Avery Dennison to $114.00 and gave the company a “market perform” rating in a report on Monday, February 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $118.00.

Shares of AVY traded up $1.57 during trading hours on Tuesday, reaching $101.26. 788,784 shares of the company’s stock traded hands, compared to its average volume of 624,220. The company has a market cap of $8.55 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The company has a current ratio of 1.14, a quick ratio of 0.80 and a debt-to-equity ratio of 1.77. Avery Dennison has a 12 month low of $82.89 and a 12 month high of $117.00.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be issued a $0.58 dividend. This is an increase from Avery Dennison’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $2.32 dividend on an annualized basis and a yield of 2.29%. Avery Dennison’s dividend payout ratio is currently 34.32%.

In other Avery Dennison news, VP Deon Stander sold 7,500 shares of the stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $109.51, for a total value of $821,325.00. Following the transaction, the vice president now owns 42,702 shares of the company’s stock, valued at $4,676,296.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Georges Gravanis sold 14,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $110.66, for a total value of $1,549,240.00. Following the completion of the transaction, the insider now directly owns 13,898 shares in the company, valued at approximately $1,537,952.68. The disclosure for this sale can be found here. In the last three months, insiders sold 238,328 shares of company stock worth $25,927,220. 1.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. GYL Financial Synergies LLC bought a new position in Avery Dennison in the first quarter valued at about $893,000. Cleararc Capital Inc. bought a new position in Avery Dennison in the first quarter valued at about $231,000. Horizon Investments LLC bought a new position in Avery Dennison in the first quarter valued at about $271,000. FMR LLC lifted its holdings in Avery Dennison by 67.2% in the first quarter. FMR LLC now owns 707,346 shares of the industrial products company’s stock valued at $79,930,000 after acquiring an additional 284,234 shares during the period. Finally, Covenant Partners LLC bought a new position in Avery Dennison in the first quarter valued at about $286,000. 86.64% of the stock is currently owned by institutional investors.

About Avery Dennison

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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Earnings History and Estimates for Avery Dennison (NYSE:AVY)

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