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

Avery Dennison (NYSE:AVY) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 9.000-9.500 for the period, compared to the consensus EPS 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 Analyst Weigh In

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of Avery Dennison from a hold rating to a buy rating in a report on Monday, April 22nd. Bank of America lowered shares of Avery Dennison from a buy rating to an underperform rating and set a $208.00 price objective on the stock. in a research report on Tuesday, January 2nd. UBS Group boosted their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a buy rating in a report on Thursday, January 11th. Raymond James reissued an outperform rating and set a $240.00 price target (up from $225.00) on shares of Avery Dennison in a report on Thursday. Finally, Robert W. Baird upped their target price on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an outperform rating in a research report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $224.00.

Avery Dennison Stock Up 0.9 %

Shares of Avery Dennison stock traded up $1.87 during trading hours on Friday, reaching $219.03. The company’s stock had a trading volume of 556,567 shares, compared to its average volume of 416,428. Avery Dennison has a one year low of $158.93 and a one year high of $225.26. The company has a market capitalization of $17.64 billion, a P/E ratio of 31.97, a P/E/G ratio of 3.35 and a beta of 0.90. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.69 and a current ratio of 0.87. The stock’s fifty day simple moving average is $215.71 and its two-hundred day simple moving average is $200.36.

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

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be given a $0.88 dividend. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Wednesday, June 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 47.30%.

Insider Buying and Selling

In related news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Ignacio J. Walker sold 5,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares in the company, valued at approximately $606,383.47. The disclosure for this sale can be found here. Insiders have sold 19,879 shares of company stock worth $4,217,705 in the last 90 days. Insiders own 1.10% of the company’s stock.

About Avery Dennison

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.