Adhesive manufacturing company Avery Dennison (NYSE:AVY) will be reporting earnings this Tuesday before the bell. Here’s what investors should know.
Avery Dennison missed analysts’ revenue expectations last quarter, reporting revenues of $2.27 billion, up 3.9% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a slight miss of analysts’ revenue estimates.
Is Avery Dennison a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Avery Dennison’s revenue to grow 5.1% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Avery Dennison’s peers in the industrials segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Packaging Corporation of America delivered year-on-year revenue growth of 10.6%, missing analysts’ expectations by 2%, and Gorman-Rupp reported revenues up 7.7%, topping estimates by 3.5%. Packaging Corporation of America traded up 4.8% following the results while Gorman-Rupp was also up 16.4%.
Read our full analysis of Packaging Corporation of America’s results here and Gorman-Rupp’s results here.
There has been positive sentiment among investors in the industrials segment, with share prices up 15% on average over the last month. Avery Dennison is down 1.6% during the same time and is heading into earnings with an average analyst price target of $205 (compared to the current share price of $165.47).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.