$1.68 EPS Expected for Avery Dennison Corp (NYSE:AVY) This Quarter

Wall Street brokerages expect Avery Dennison Corp (NYSE:AVY) to announce $1.68 earnings per share for the current quarter, according to Zacks. Three analysts have provided estimates for Avery Dennison’s earnings, with the lowest EPS estimate coming in at $1.67 and the highest estimate coming in at $1.69. Avery Dennison posted earnings of $1.52 per share during the same quarter last year, which suggests a positive year over year growth rate of 10.5%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, January 29th.

On average, analysts expect that Avery Dennison will report full year earnings of $6.55 per share for the current year, with EPS estimates ranging from $6.54 to $6.56. For the next financial year, analysts expect that the firm will report earnings of $7.05 per share, with EPS estimates ranging from $6.80 to $7.25. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Avery Dennison.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.61 by $0.05. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Avery Dennison had a return on equity of 53.79% and a net margin of 3.37%. Avery Dennison’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 EPS.

AVY has been the topic of several recent analyst reports. Zacks Investment Research raised Avery Dennison from a “sell” rating to a “hold” rating and set a $134.00 target price on the stock in a report on Friday, October 25th. Argus initiated coverage on Avery Dennison in a report on Tuesday, January 7th. They issued a “hold” rating on the stock. Morgan Stanley initiated coverage on Avery Dennison in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $137.00 target price on the stock. Credit Suisse Group boosted their target price on Avery Dennison from $117.00 to $129.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Citigroup downgraded Avery Dennison from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $132.00 to $136.00 in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Avery Dennison has a consensus rating of “Hold” and an average target price of $126.00.

In other Avery Dennison news, Director Julia A. Stewart sold 6,318 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $130.00, for a total transaction of $821,340.00. Following the transaction, the director now owns 18,624 shares of the company’s stock, valued at approximately $2,421,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of AVY. AdvisorNet Financial Inc acquired a new position in Avery Dennison during the 3rd quarter worth $28,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Avery Dennison during the 3rd quarter worth $33,000. CSat Investment Advisory L.P. lifted its holdings in Avery Dennison by 57.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 461 shares of the industrial products company’s stock worth $53,000 after buying an additional 168 shares in the last quarter. Clean Yield Group acquired a new position in Avery Dennison during the 4th quarter worth $66,000. Finally, Usca Ria LLC acquired a new position in Avery Dennison during the 3rd quarter worth $77,000. 88.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AVY traded down $1.14 on Friday, hitting $129.68. The company’s stock had a trading volume of 342,616 shares, compared to its average volume of 526,395. The company has a market capitalization of $10.87 billion, a PE ratio of 46.82, a PEG ratio of 2.24 and a beta of 1.30. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.74. Avery Dennison has a fifty-two week low of $96.40 and a fifty-two week high of $134.88. The company has a 50 day moving average price of $130.82 and a 200 day moving average price of $121.55.

Avery Dennison Company Profile

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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