Avery Dennison Corporation (NYSE:AVY) Releases Earnings Results

Avery Dennison Corporation (NYSE:AVY) issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.10, Bloomberg Earnings reports. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share. Avery Dennison Corporation updated its FY17 guidance to $4.75-4.90 EPS.

Avery Dennison Corporation (AVY) traded up 1.19% during mid-day trading on Friday, reaching $93.02. 502,965 shares of the company’s stock were exchanged. Avery Dennison Corporation has a 52 week low of $68.55 and a 52 week high of $96.70. The company has a market capitalization of $8.22 billion, a P/E ratio of 21.85 and a beta of 1.18. The company’s 50 day moving average price is $91.80 and its 200-day moving average price is $84.00.

The company 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. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.94%. Avery Dennison Corporation’s dividend payout ratio is currently 42.25%.

In related news, Director Anthony Anderson sold 950 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $84.42, for a total transaction of $80,199.00. Following the completion of the transaction, the director now directly owns 7,492 shares of the company’s stock, valued at $632,474.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Deon Stander sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $84.50, for a total value of $422,500.00. Following the completion of the sale, 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. Insiders have sold 22,198 shares of company stock valued at $1,971,016 over the last ninety days. 1.40% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. American Beacon Advisors Inc. purchased a new position in shares of Avery Dennison Corporation during the first quarter worth $105,000. Van ECK Associates Corp raised its position in shares of Avery Dennison Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock worth $107,000 after buying an additional 94 shares during the period. Acrospire Investment Management LLC purchased a new position in shares of Avery Dennison Corporation during the second quarter worth $129,000. Captrust Financial Advisors purchased a new position in shares of Avery Dennison Corporation during the second quarter worth $130,000. Finally, Pacad Investment Ltd. purchased a new position in shares of Avery Dennison Corporation during the second quarter worth $141,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

A number of equities research analysts have recently commented on AVY shares. Citigroup Inc. increased their target price on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Monday, June 5th. Bank of America Corporation upgraded shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $96.00 in a research report on Tuesday, June 20th. BidaskClub raised shares of Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Finally, Aegis reissued a “hold” rating on shares of Avery Dennison Corporation in a research note on Thursday, June 1st. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Avery Dennison Corporation presently has an average rating of “Buy” and an average price target of $91.67.

TRADEMARK VIOLATION NOTICE: “Avery Dennison Corporation (NYSE:AVY) Releases Earnings Results” was published by Stock Observer and is the property of of Stock Observer. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://www.thestockobserver.com/2017/08/12/avery-dennison-corporation-nyseavy-issues-quarterly-earnings-results-updated-updated.html.

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).

Earnings History for Avery Dennison Corporation (NYSE:AVY)

Receive News & Ratings for Avery Dennison Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply