Avery Dennison Corporation (NYSE:AVY) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $4.75-4.90 for the period, compared to the Thomson Reuters consensus estimate of $4.60.
Several brokerages have recently issued reports on AVY. Aegis reaffirmed a hold rating on shares of Avery Dennison Corporation in a research note on Thursday, June 1st. BidaskClub raised shares of Avery Dennison Corporation from a buy rating to a strong-buy rating in a research note on Wednesday, June 28th. Zacks Investment Research cut shares of Avery Dennison Corporation from a buy rating to a hold rating in a research note on Friday, May 19th. Bank of America Corporation raised shares of Avery Dennison Corporation from a neutral rating to a buy rating and lifted their price objective for the stock from $90.00 to $96.00 in a research note on Tuesday, June 20th. Finally, Citigroup Inc. lifted their price objective on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a buy rating in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $91.67.
Shares of Avery Dennison Corporation (NYSE AVY) traded down 0.13% on Friday, hitting $93.04. 416,462 shares of the company’s stock traded hands. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 21.86 and a beta of 1.18. Avery Dennison Corporation has a 1-year low of $68.55 and a 1-year high of $96.70. The firm’s 50-day moving average price is $92.57 and its 200 day moving average price is $84.71.
Avery Dennison Corporation (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.10. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the business earned $1.09 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Avery Dennison Corporation will post $4.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, September 1st. Avery Dennison Corporation’s dividend payout ratio (DPR) is presently 42.25%.
In related news, Director Patrick Siewert sold 10,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $93.63, for a total value of $936,300.00. Following the sale, the director now owns 10,519 shares in the company, valued at approximately $984,893.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Deon Stander sold 5,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $84.50, for a total value of $422,500.00. Following the transaction, the vice president now owns 10,998 shares in the company, valued at approximately $929,331. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,248 shares of company stock worth $1,890,817. 1.40% of the stock is owned by company insiders.
About Avery Dennison Corporation
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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