Core Insights - Old Dominion Freight Lines, Avery Dennison, and Lennox International are identified as stocks on the verge of correction despite solid Q4 results and healthy outlooks [2][3][5][7] - Dividend growth stocks are attractive but often come with higher valuations and lower yields, making timing important for investment [2] Group 1: Old Dominion Freight Lines - Old Dominion Freight Lines has increased its dividend by 30%, reflecting a robust outlook for distribution growth [3] - The stock has a yield of approximately 0.53% with a high price multiple of 30X earnings, and the payout is only 16% of earnings [3] - Analysts have upgraded the stock's rating to Hold, with a price target increase of 35% compared to last year, indicating potential upside [3] Group 2: Avery Dennison - Avery Dennison offers a higher yield of 1.6% and trades at a more reasonable 21X earnings, with a double-digit growth rate in distributions [5] - The company is expected to achieve an 18% gain this year and a 15% increase next year, with analysts rating it a Moderate Buy [5] - Following Q4 results, JPMorgan raised its price target to align with the consensus of $218, indicating a potential 10% increase [5] Group 3: Lennox International - Lennox International is experiencing a price correction, which may enhance its value and yield, with a payout of less than 25% of earnings [7] - The stock has shown consistent earnings growth in the low-double digits and maintains a 12% compound annual growth rate (CAGR) for distributions [7] - Analysts suggest that the stock is positioned for improvement despite current market conditions [7] Group 4: Analyst Sentiment - Analysts' activity post-Q4 results is mixed but generally bullish, with revisions including a downgrade, a boosted price target, and an initiated Buy rating [8] - The consensus assumes a 5% market upside, with the high-end price target indicating a potential 23% increase [8]

Avery Dennison Corporation (NYSE:AVY) Q4 2023 Earnings Conference Call January 31, 2024 1:00 PM ET Corporate Participants John Eble - Vice President of Finance and Investor Relations Deon Stander - President and Chief Executive Officer Greg Lovins - Senior Vice President and Chief Financial Officer Conference Call Participants Ghansham Panjabi - Robert W. Baird John McNulty - BMO Capital Markets Bryan Burgmeier - Citigroup Global Markets George Staphos - BofA Securities Mike Roxland - Truist Securities Jeff ...

Core Insights - Avery Dennison Corporation (AVY) reported adjusted earnings of $2.16 per share for Q4 2023, surpassing the Zacks Consensus Estimate of $2.15, with a year-over-year increase of 31% [1] - Total revenues for the quarter rose 4.2% year-over-year to $2.11 billion, exceeding the Zacks Consensus Estimate of $2.09 billion [1] - The company expects adjusted EPS for 2024 to be between $9.00 and $9.50 [5] Financial Performance - The company reported earnings per share (EPS) of $1.77 including one-time items, compared to $1.51 in the same quarter last year [1] - Gross profit increased by 19.2% year-over-year to $596 million, while the cost of sales decreased by 0.7% to $1.51 billion [1] - Adjusted operating profit was approximately $261 million, up from $188 million in the prior-year quarter, with an adjusted operating margin of 12.4% compared to 9.3% [1] Segment Performance - Revenues in the Materials Group segment declined 1.6% year-over-year to $1.42 billion, missing estimates, while adjusted operating profit increased 31.9% to $198 million [2] - The Solutions Group saw revenues rise 18.3% year-over-year to $692 million, significantly exceeding estimates, with adjusted operating income up 51.6% to $80.5 million [2] Shareholder Returns and Debt - The company returned $394 million to shareholders through share repurchases and dividends in 2023, repurchasing 0.8 million shares [3] - Cash and cash equivalents at the end of 2023 were $215 million, up from $167 million at the end of 2022, while long-term debt increased to $2.62 billion [3] Annual Performance - Adjusted EPS for 2023 decreased 14% year-over-year to $7.90 but exceeded estimates, while total revenues fell 7.5% to $8.36 billion, also surpassing expectations [4] Stock Performance - Shares of AVY have increased by 6.8% over the past year, compared to the industry's growth of 15% [6]

Avery Dennison (AVY) reported $2.11 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 4.2%. EPS of $2.16 for the same period compares to $1.65 a year ago.The reported revenue represents a surprise of +1.06% over the Zacks Consensus Estimate of $2.09 billion. With the consensus EPS estimate being $2.15, the EPS surprise was +0.47%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...

Company Performance - Avery Dennison reported quarterly earnings of $2.16 per share, exceeding the Zacks Consensus Estimate of $2.15 per share, and up from $1.65 per share a year ago, indicating a 30.91% year-over-year increase [1] - The company achieved revenues of $2.11 billion for the quarter ended December 2023, surpassing the Zacks Consensus Estimate by 1.06% and up from $2.03 billion in the same quarter last year, reflecting a year-over-year growth of 3.95% [1] - Over the last four quarters, Avery Dennison has surpassed consensus EPS estimates three times, demonstrating a consistent performance trend [1] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $2.01, with expected revenues of $2.18 billion, while the estimate for the current fiscal year is $9.15 on revenues of $8.81 billion [4] - The estimate revisions trend for Avery Dennison is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [4] Industry Context - The Office Supplies industry, to which Avery Dennison belongs, is currently ranked in the bottom 17% of over 250 Zacks industries, indicating potential challenges in overall industry performance [5] - Acco Brands, another company in the same industry, is expected to report quarterly earnings of $0.32 per share, unchanged from the previous year, with revenues projected to decline by 5.3% to $473.08 million [5]

MENTOR, Ohio--(BUSINESS WIRE)--The Board of Directors of Avery Dennison Corporation (NYSE:AVY) has declared a quarterly cash dividend of $0.81 per share. The dividend is payable on March 20, 2024 to shareholders of record on March 6, 2024. About Avery Dennison Avery Dennison Corporation (NYSE: AVY) is a global materials science and digital identification solutions company that provides a wide range of branding and information solutions that optimize labor and supply chain efficiency, reduce waste, advance ...

Avery Dennison Corporation (AVY) is scheduled to report fourth-quarter 2023 results before the opening bell on Jan 31.Q4 EstimatesThe Zacks Consensus Estimate for fourth-quarter total sales is pegged at $2.10 billion, suggesting a growth of 3.4% from the prior-year quarter’s reported figure. The consensus mark for the company’s earnings per share is pinned at $2.15, indicating a year-over-year increase of 30.3%. Earnings estimates have moved up 0.5% in the past 60 days.Q3 PerformanceAvery Dennison’s revenue ...

Avery Dennison (AVY) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on January 31, 2024, might help the stock move higher if these key numbers are better t ...

MENTOR, Ohio--(BUSINESS WIRE)--Avery Dennison Corporation (NYSE: AVY) will host its fourth quarter and full year 2023 earnings conference call in a live webcast at 1:00 p.m. ET on Wednesday, January 31, 2024. The company’s fourth quarter and full year 2023 news release will be issued that morning at 6:45 a.m. ET. This event will be webcast live, and a replay will be available on Avery Dennison's Investor Relations website (www.investors.averydennison.com). About Avery Dennison Avery Dennison Corporation ...

The company will demonstrate what the biggest names in retail have already realized — that Wiliot's ambient IoT technology illuminates once-dark parts of the supply chain, offering real-time, end-to-end visibility of products from warehouse to store to home. NEW YORK, Jan. 11, 2024 /PRNewswire/ -- Wiliot, the Internet of Things pioneer whose IoT platform is enabling trillions of "things" to gain intelligence, is bringing its industry-changing visibility technology to NRF 2024. Attendees can see first-hand t ...