Wall Street analysts forecast that Avery Dennison (AVY) will report quarterly earnings of $2.32 per share in its upcoming release, pointing to a year-over-year increase of 1.3%. It is anticipated that revenues will amount to $2.14 billion, exhibiting a decline of 0.4% compared to the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Avery Dennison metrics that are commonly monitored and projected by Wall Street analysts.
The combined assessment of analysts suggests that 'Net Sales- Solutions Group' will likely reach $665.75 million. The estimate suggests a change of +1.7% year over year.
Analysts forecast 'Net Sales- Materials Group' to reach $1.47 billion. The estimate suggests a change of -1.6% year over year.
The consensus estimate for 'Adjusted Operating income (loss)- Solutions Group' stands at $62.56 million. Compared to the current estimate, the company reported $60.90 million in the same quarter of the previous year.
The consensus among analysts is that 'Adjusted Operating income (loss)- Materials Group' will reach $230.80 million. The estimate compares to the year-ago value of $240.50 million.
View all Key Company Metrics for Avery Dennison here>>>
Shares of Avery Dennison have demonstrated returns of -2.1% over the past month compared to the Zacks S&P 500 composite's -5.6% change. With a Zacks Rank #3 (Hold), AVY is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Avery Dennison Corporation (AVY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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