Avery Dennison(US:AVY) Zacks Investment Researchยท2024-01-31 13:56Company 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]