Avery Dennison Corp (NYSE:AVY) Expected to Post Quarterly Sales of $1.78 Billion

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Wall Street analysts expect Avery Dennison Corp (NYSE:AVY) to report sales of $1.78 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Avery Dennison’s earnings. The highest sales estimate is $1.79 billion and the lowest is $1.78 billion. Avery Dennison reported sales of $1.77 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 0.6%. The firm is expected to report its next earnings results on Wednesday, January 29th.

On average, analysts expect that Avery Dennison will report full year sales of $7.08 billion for the current fiscal year, with estimates ranging from $7.06 billion to $7.09 billion. For the next year, analysts anticipate that the firm will report sales of $7.23 billion, with estimates ranging from $7.16 billion to $7.32 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Avery Dennison.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.05. Avery Dennison had a net margin of 3.37% and a return on equity of 53.79%. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the company posted $1.45 EPS. The company’s revenue was up .0% on a year-over-year basis.

AVY has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Avery Dennison from a “sell” rating to a “hold” rating and set a $134.00 price target for the company in a research report on Friday, October 25th. KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a research report on Friday, September 13th. Bank of America upgraded shares of Avery Dennison from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Friday, September 13th. UBS Group decreased their price objective on shares of Avery Dennison from $130.00 to $129.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Finally, ValuEngine upgraded shares of Avery Dennison from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $126.00.

In related news, Director Anthony Anderson sold 2,150 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $114.54, for a total transaction of $246,261.00. Following the transaction, the director now directly owns 2,862 shares of the company’s stock, valued at $327,813.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Julia A. Stewart sold 6,318 shares of the 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 directly owns 18,624 shares in the company, valued at $2,421,120. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,181 shares of company stock valued at $2,117,537. 1.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AVY. Price T Rowe Associates Inc. MD lifted its position in shares of Avery Dennison by 12.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,555,193 shares of the industrial products company’s stock valued at $642,625,000 after purchasing an additional 626,277 shares in the last quarter. Boston Partners lifted its position in shares of Avery Dennison by 26.2% during the second quarter. Boston Partners now owns 2,064,187 shares of the industrial products company’s stock valued at $238,767,000 after purchasing an additional 428,743 shares in the last quarter. Invesco Ltd. lifted its position in shares of Avery Dennison by 14.2% during the second quarter. Invesco Ltd. now owns 1,871,043 shares of the industrial products company’s stock valued at $216,442,000 after purchasing an additional 233,009 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Avery Dennison by 77.1% during the second quarter. Victory Capital Management Inc. now owns 1,857,542 shares of the industrial products company’s stock valued at $214,881,000 after purchasing an additional 808,710 shares in the last quarter. Finally, Marshall Wace North America L.P. lifted its position in shares of Avery Dennison by 106.4% during the second quarter. Marshall Wace North America L.P. now owns 1,031,090 shares of the industrial products company’s stock valued at $119,277,000 after purchasing an additional 531,517 shares in the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

NYSE AVY traded up $0.07 on Wednesday, hitting $130.81. The company’s stock had a trading volume of 1,085,300 shares, compared to its average volume of 582,803. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. Avery Dennison has a 1-year low of $82.89 and a 1-year high of $134.56. The company’s 50-day moving average is $125.11 and its 200 day moving average is $115.04. The firm has a market cap of $10.79 billion, a PE ratio of 21.59, a PEG ratio of 2.39 and a beta of 1.32.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, December 3rd. Avery Dennison’s dividend payout ratio (DPR) is presently 38.28%.

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

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