Stock Story -
Adhesive manufacturing company Avery Dennison (NYSE:AVY) will be reporting earnings tomorrow before market hours. Here's what investors should know.
Avery Dennison met analysts' revenue expectations last quarter, reporting revenues of $2.15 billion, up 4.2% year on year. It was an ok quarter for the company, with a decent beat of analysts' earnings estimates but a miss of analysts' organic revenue estimates.
Is Avery Dennison a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Avery Dennison's revenue to grow 5% year on year to $2.19 billion, a reversal from the 10.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.26 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Avery Dennison has missed Wall Street's revenue estimates four times over the last two years.
Looking at Avery Dennison's peers in the industrials segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Badger Meter delivered year-on-year revenue growth of 23.2%, beating analysts' expectations by 6.5%, and Apogee reported a revenue decline of 8.3%, in line with consensus estimates. Apogee traded up 6.6% following the results.
Read the full analysis of Badger Meter's and Apogee's results on StockStory.
There has been positive sentiment among investors in the industrials segment, with share prices up 4.5% on average over the last month. Avery Dennison is down 4.2% during the same time and is heading into earnings with an average analyst price target of $230.5 (compared to the current share price of $219.99).
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