Avery Dennison (NYSE:AVY) Releases FY 2024 Earnings Guidance

Avery Dennison (NYSE:AVY) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 9.000-9.500 for the period, compared to the consensus estimate of 9.320. The company issued revenue guidance of -. Avery Dennison also updated its FY24 guidance to $9.00 to $9.50 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVY. Truist Financial upped their target price on shares of Avery Dennison from $248.00 to $253.00 and gave the company a buy rating in a research note on Friday. UBS Group upped their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the company a buy rating in a research note on Thursday, January 11th. Raymond James restated an outperform rating and issued a $240.00 price target (up from $225.00) on shares of Avery Dennison in a research report on Thursday. Bank of America lowered shares of Avery Dennison from a buy rating to an underperform rating and set a $208.00 price target on the stock. in a research report on Tuesday, January 2nd. Finally, StockNews.com upgraded shares of Avery Dennison from a hold rating to a buy rating in a research report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $224.00.

Avery Dennison Trading Up 0.9 %

Shares of NYSE AVY traded up $1.97 during midday trading on Friday, hitting $219.13. The stock had a trading volume of 225,889 shares, compared to its average volume of 441,187. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.69. Avery Dennison has a fifty-two week low of $158.93 and a fifty-two week high of $225.26. The firm has a market cap of $17.64 billion, a P/E ratio of 31.85, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. The company’s 50-day simple moving average is $215.51 and its 200 day simple moving average is $200.13.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting analysts’ consensus estimates of $2.16. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. Research analysts anticipate that Avery Dennison will post 9.26 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 annualized dividend and a dividend yield of 1.48%. Avery Dennison’s payout ratio is currently 47.30%.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now directly owns 321,487 shares in the company, valued at approximately $69,878,414.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the transaction, the senior vice president now owns 6,102 shares in the company, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,879 shares of company stock worth $4,217,705. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.