Avery Dennison (NYSE:AVY) Issues 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.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group lifted their price target on Avery Dennison from $225.00 to $230.00 and gave the stock a buy rating in a report on Thursday, January 11th. Bank of America cut Avery Dennison from a buy rating to an underperform rating and set a $208.00 price target for the company. in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. lifted their price objective on Avery Dennison from $218.00 to $220.00 and gave the company an overweight rating in a research note on Thursday. Citigroup lifted their price objective on Avery Dennison from $223.00 to $234.00 and gave the company a neutral rating in a research note on Thursday, April 4th. Finally, Raymond James reaffirmed an outperform rating and set a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $223.60.

Avery Dennison Price Performance

NYSE:AVY traded up $3.37 on Thursday, reaching $215.79. 294,648 shares of the company’s stock traded hands, compared to its average volume of 438,913. Avery Dennison has a 12 month low of $158.93 and a 12 month high of $225.26. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23. The stock has a 50-day simple moving average of $215.34 and a 200-day simple moving average of $200.01. The firm has a market cap of $17.38 billion, a PE ratio of 34.75, a P/E/G ratio of 3.26 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. The company 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 30.97% and a net margin of 6.01%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.65 earnings per share. Equities research analysts forecast that Avery Dennison will post 9.26 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.81 per share. The ex-dividend date was Tuesday, March 5th. This represents a $3.24 annualized dividend and a dividend yield of 1.50%. Avery Dennison’s dividend payout ratio (DPR) is presently 52.17%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the transaction, the director now owns 5,018 shares in the company, valued at $1,014,940.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Ignacio J. Walker sold 5,000 shares of the business’s 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 in the company, valued at $1,305,217.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock worth $4,217,705 over the last 90 days. Company insiders own 1.10% of the company’s stock.

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.