Zacks Research Weighs in on Avery Dennison Co.’s Q3 2024 Earnings (NYSE:AVY)

Avery Dennison Co. (NYSE:AVY) – Equities research analysts at Zacks Research cut their Q3 2024 earnings per share estimates for shares of Avery Dennison in a research report issued to clients and investors on Tuesday, August 6th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings of $2.31 per share for the quarter, down from their previous forecast of $2.36. The consensus estimate for Avery Dennison’s current full-year earnings is $9.39 per share. Zacks Research also issued estimates for Avery Dennison’s Q4 2024 earnings at $2.38 EPS, FY2024 earnings at $9.40 EPS, Q1 2025 earnings at $2.34 EPS, Q2 2025 earnings at $2.57 EPS, Q3 2025 earnings at $2.75 EPS, Q4 2025 earnings at $2.69 EPS, FY2025 earnings at $10.36 EPS, Q1 2026 earnings at $2.75 EPS, Q2 2026 earnings at $2.84 EPS and FY2026 earnings at $11.39 EPS.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets reduced their price objective on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Raymond James reaffirmed an “outperform” rating and set a $240.00 price objective (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Stifel Nicolaus began coverage on Avery Dennison in a report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price objective on the stock. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price target for the company from $262.00 to $235.00 in a report on Thursday, July 25th. Finally, Citigroup increased their price target on shares of Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $239.96.

Avery Dennison Stock Up 0.1 %

Shares of AVY stock traded up $0.13 during trading hours on Thursday, reaching $207.86. 271,497 shares of the stock were exchanged, compared to its average volume of 454,376. The business’s fifty day moving average is $219.89 and its two-hundred day moving average is $216.70. The firm has a market capitalization of $16.74 billion, a P/E ratio of 30.32, a P/E/G ratio of 1.77 and a beta of 0.88. Avery Dennison has a 12-month low of $165.21 and a 12-month high of $233.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.16. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $1.92 earnings per share.

Institutional Investors Weigh In On Avery Dennison

A number of institutional investors have recently bought and sold shares of the stock. Allworth Financial LP increased its holdings in shares of Avery Dennison by 11.2% during the 4th quarter. Allworth Financial LP now owns 754 shares of the industrial products company’s stock worth $152,000 after buying an additional 76 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Avery Dennison by 12.8% in the 4th quarter. Sequoia Financial Advisors LLC now owns 5,350 shares of the industrial products company’s stock worth $1,082,000 after purchasing an additional 608 shares during the period. Moody Aldrich Partners LLC acquired a new position in shares of Avery Dennison in the 4th quarter valued at about $209,000. Custom Index Systems LLC purchased a new stake in shares of Avery Dennison during the 4th quarter worth about $410,000. Finally, Mutual of America Capital Management LLC raised its holdings in Avery Dennison by 133.4% in the fourth quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock valued at $5,320,000 after buying an additional 15,040 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $65,004,367.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Francisco Melo sold 3,750 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $227.00, for a total transaction of $851,250.00. Following the completion of the transaction, the insider now owns 15,230 shares in the company, valued at $3,457,210. The disclosure for this sale can be found here. Insiders have sold 25,689 shares of company stock worth $5,562,466 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

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.