Avery Dennison Beats EPS Estimates By 1 Cent (AVY)

Pasadena, California-based Avery Dennison Corporation AVY announced on Wednesday morning that it managed to beat consensus Wall Street estimates. Avery Dennison Corporation reported that its 4th quarter net income surged 129% to $114.2 million, or $1.06 per share, up from $49.9 million, or 47 cents per share, a year earlier. Excluding special items, the company's earnings came in at 98 cents per share. Avery Dennison Corporation reported revenue of $1.64 billion, up 9% from $1.52 billion a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 97 cents per share, on revenue of $1.6 billion. Avery Dennison Corporation (AVY) closed the previous trading day at $41.80 per share. Analysts covering the company's stock give it a consensus price target of $45.86 per share. Avery Dennison Corporation is a global leader in pressure-sensitive technology and materials, retail branding and information solutions, and organization and identification products for offices and consumers. Read more from Benzinga's Company news.