Avery Dennison (AVY, Financial) has released its financial results for the third quarter of fiscal year 2024, showing noteworthy growth. The company's net profit reached $182 million, marking an increase of 31.88% compared to the previous year. Additionally, operating revenue rose by 4.05% to $2.183 billion. Basic earnings per share were not disclosed in the report.
Examining the balance sheet, Avery Dennison's total liabilities amounted to $6.058 billion, with short-term debt standing at $1.117 billion. The company maintained a debt-to-equity ratio of 1.40 and a current ratio of 0.93, indicating its financial leverage and liquidity status.
As of October 25, 2024, 11 financial institutions have provided target price forecasts for Avery Dennison, with an average target price of $243.27. The forecasts range from a low of $210.00 to a high of $275.00, reflecting varying market expectations.
Avery Dennison is renowned for producing pressure-sensitive materials, tags, and labels. The company also has a specialty business that manufactures RFID, inlays, and tags. A substantial portion of its revenue comes from international markets, contributing significantly to its total sales.
