Intrinsic value of Avery Dennison - AVY

Previous Close

$97.58

  Intrinsic Value

$178.11

stock screener

  Rating & Target

str. buy

+83%

Previous close

$97.58

 
Intrinsic value

$178.11

 
Up/down potential

+83%

 
Rating

str. buy

We calculate the intrinsic value of AVY stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 8.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  14.00
  13.10
  12.29
  11.56
  10.90
  10.31
  9.78
  9.30
  8.87
  8.49
  8.14
  7.82
  7.54
  7.29
  7.06
  6.85
  6.67
  6.50
  6.35
  6.22
  6.09
  5.98
  5.89
  5.80
  5.72
  5.65
  5.58
  5.52
  5.47
  5.42
Revenue, $m
  7,540
  8,527
  9,575
  10,682
  11,847
  13,069
  14,348
  15,683
  17,075
  18,524
  20,031
  21,599
  23,228
  24,920
  26,679
  28,508
  30,409
  32,385
  34,442
  36,583
  38,812
  41,135
  43,557
  46,082
  48,717
  51,467
  54,340
  57,341
  60,479
  63,759
Variable operating expenses, $m
  6,280
  7,087
  7,944
  8,849
  9,801
  10,801
  11,846
  12,937
  14,075
  15,260
  16,377
  17,659
  18,991
  20,375
  21,813
  23,308
  24,862
  26,478
  28,160
  29,910
  31,733
  33,632
  35,611
  37,676
  39,830
  42,079
  44,428
  46,882
  49,447
  52,129
Fixed operating expenses, $m
  419
  428
  438
  447
  457
  467
  477
  488
  499
  510
  521
  532
  544
  556
  568
  581
  594
  607
  620
  634
  648
  662
  676
  691
  706
  722
  738
  754
  771
  788
Total operating expenses, $m
  6,699
  7,515
  8,382
  9,296
  10,258
  11,268
  12,323
  13,425
  14,574
  15,770
  16,898
  18,191
  19,535
  20,931
  22,381
  23,889
  25,456
  27,085
  28,780
  30,544
  32,381
  34,294
  36,287
  38,367
  40,536
  42,801
  45,166
  47,636
  50,218
  52,917
Operating income, $m
  841
  1,012
  1,194
  1,386
  1,589
  1,802
  2,025
  2,258
  2,501
  2,754
  3,133
  3,407
  3,693
  3,990
  4,298
  4,619
  4,953
  5,301
  5,663
  6,039
  6,432
  6,842
  7,269
  7,715
  8,180
  8,666
  9,174
  9,706
  10,261
  10,843
EBITDA, $m
  1,108
  1,299
  1,502
  1,717
  1,943
  2,180
  2,429
  2,689
  2,960
  3,243
  3,537
  3,843
  4,162
  4,492
  4,837
  5,195
  5,567
  5,954
  6,358
  6,778
  7,215
  7,672
  8,148
  8,644
  9,163
  9,705
  10,271
  10,863
  11,481
  12,129
Interest expense (income), $m
  59
  85
  116
  149
  184
  221
  260
  301
  343
  388
  434
  483
  533
  585
  640
  696
  755
  816
  879
  945
  1,014
  1,085
  1,160
  1,237
  1,318
  1,402
  1,490
  1,582
  1,678
  1,778
  1,883
Earnings before tax, $m
  756
  896
  1,045
  1,202
  1,368
  1,542
  1,724
  1,914
  2,113
  2,320
  2,650
  2,874
  3,108
  3,350
  3,602
  3,864
  4,137
  4,421
  4,717
  5,026
  5,347
  5,682
  6,031
  6,396
  6,778
  7,176
  7,592
  8,028
  8,483
  8,960
Tax expense, $m
  204
  242
  282
  325
  369
  416
  465
  517
  570
  626
  716
  776
  839
  904
  973
  1,043
  1,117
  1,194
  1,274
  1,357
  1,444
  1,534
  1,629
  1,727
  1,830
  1,937
  2,050
  2,167
  2,290
  2,419
Net income, $m
  552
  654
  763
  878
  998
  1,125
  1,258
  1,397
  1,542
  1,693
  1,935
  2,098
  2,269
  2,445
  2,630
  2,821
  3,020
  3,228
  3,444
  3,669
  3,903
  4,148
  4,403
  4,669
  4,948
  5,238
  5,542
  5,860
  6,193
  6,541

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  5,854
  6,621
  7,434
  8,294
  9,198
  10,147
  11,140
  12,176
  13,257
  14,382
  15,552
  16,769
  18,034
  19,348
  20,714
  22,133
  23,609
  25,144
  26,741
  28,403
  30,134
  31,937
  33,817
  35,778
  37,824
  39,959
  42,189
  44,520
  46,955
  49,502
Adjusted assets (=assets-cash), $m
  5,854
  6,621
  7,434
  8,294
  9,198
  10,147
  11,140
  12,176
  13,257
  14,382
  15,552
  16,769
  18,034
  19,348
  20,714
  22,133
  23,609
  25,144
  26,741
  28,403
  30,134
  31,937
  33,817
  35,778
  37,824
  39,959
  42,189
  44,520
  46,955
  49,502
Revenue / Adjusted assets
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
  1.288
Average production assets, $m
  1,719
  1,944
  2,183
  2,436
  2,701
  2,980
  3,271
  3,576
  3,893
  4,223
  4,567
  4,924
  5,296
  5,682
  6,083
  6,500
  6,933
  7,384
  7,853
  8,341
  8,849
  9,379
  9,931
  10,507
  11,107
  11,735
  12,390
  13,074
  13,789
  14,537
Working capital, $m
  347
  392
  440
  491
  545
  601
  660
  721
  785
  852
  921
  994
  1,068
  1,146
  1,227
  1,311
  1,399
  1,490
  1,584
  1,683
  1,785
  1,892
  2,004
  2,120
  2,241
  2,368
  2,500
  2,638
  2,782
  2,933
Total debt, $m
  2,151
  2,761
  3,409
  4,093
  4,813
  5,568
  6,358
  7,183
  8,043
  8,939
  9,871
  10,839
  11,846
  12,892
  13,979
  15,109
  16,284
  17,506
  18,777
  20,100
  21,478
  22,913
  24,410
  25,970
  27,599
  29,298
  31,074
  32,929
  34,868
  36,895
Total liabilities, $m
  4,660
  5,270
  5,918
  6,602
  7,322
  8,077
  8,867
  9,692
  10,552
  11,448
  12,380
  13,348
  14,355
  15,401
  16,488
  17,618
  18,793
  20,015
  21,286
  22,609
  23,987
  25,422
  26,919
  28,479
  30,108
  31,807
  33,583
  35,438
  37,377
  39,404
Total equity, $m
  1,194
  1,351
  1,517
  1,692
  1,876
  2,070
  2,273
  2,484
  2,704
  2,934
  3,173
  3,421
  3,679
  3,947
  4,226
  4,515
  4,816
  5,129
  5,455
  5,794
  6,147
  6,515
  6,899
  7,299
  7,716
  8,152
  8,607
  9,082
  9,579
  10,098
Total liabilities and equity, $m
  5,854
  6,621
  7,435
  8,294
  9,198
  10,147
  11,140
  12,176
  13,256
  14,382
  15,553
  16,769
  18,034
  19,348
  20,714
  22,133
  23,609
  25,144
  26,741
  28,403
  30,134
  31,937
  33,818
  35,778
  37,824
  39,959
  42,190
  44,520
  46,956
  49,502
Debt-to-equity ratio
  1.800
  2.040
  2.250
  2.420
  2.560
  2.690
  2.800
  2.890
  2.970
  3.050
  3.110
  3.170
  3.220
  3.270
  3.310
  3.350
  3.380
  3.410
  3.440
  3.470
  3.490
  3.520
  3.540
  3.560
  3.580
  3.590
  3.610
  3.630
  3.640
  3.650
Adjusted equity ratio
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204
  0.204

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  552
  654
  763
  878
  998
  1,125
  1,258
  1,397
  1,542
  1,693
  1,935
  2,098
  2,269
  2,445
  2,630
  2,821
  3,020
  3,228
  3,444
  3,669
  3,903
  4,148
  4,403
  4,669
  4,948
  5,238
  5,542
  5,860
  6,193
  6,541
Depreciation, amort., depletion, $m
  267
  287
  308
  331
  354
  379
  405
  432
  460
  489
  404
  436
  469
  503
  538
  575
  614
  653
  695
  738
  783
  830
  879
  930
  983
  1,038
  1,096
  1,157
  1,220
  1,286
Funds from operations, $m
  819
  941
  1,071
  1,208
  1,353
  1,504
  1,663
  1,829
  2,002
  2,182
  2,339
  2,534
  2,737
  2,948
  3,168
  3,396
  3,634
  3,881
  4,139
  4,407
  4,686
  4,978
  5,282
  5,599
  5,931
  6,277
  6,639
  7,017
  7,413
  7,827
Change in working capital, $m
  43
  45
  48
  51
  54
  56
  59
  61
  64
  67
  69
  72
  75
  78
  81
  84
  87
  91
  95
  98
  103
  107
  111
  116
  121
  127
  132
  138
  144
  151
Cash from operations, $m
  776
  896
  1,023
  1,157
  1,299
  1,448
  1,604
  1,768
  1,938
  2,116
  2,270
  2,462
  2,662
  2,870
  3,087
  3,312
  3,546
  3,790
  4,044
  4,308
  4,584
  4,871
  5,170
  5,483
  5,809
  6,150
  6,507
  6,879
  7,269
  7,676
Maintenance CAPEX, $m
  -134
  -152
  -172
  -193
  -216
  -239
  -264
  -289
  -316
  -345
  -374
  -404
  -436
  -469
  -503
  -538
  -575
  -614
  -653
  -695
  -738
  -783
  -830
  -879
  -930
  -983
  -1,038
  -1,096
  -1,157
  -1,220
New CAPEX, $m
  -210
  -225
  -239
  -252
  -266
  -279
  -292
  -304
  -317
  -330
  -344
  -357
  -371
  -386
  -401
  -417
  -433
  -451
  -469
  -488
  -508
  -530
  -552
  -576
  -601
  -627
  -655
  -684
  -715
  -748
Cash from investing activities, $m
  -344
  -377
  -411
  -445
  -482
  -518
  -556
  -593
  -633
  -675
  -718
  -761
  -807
  -855
  -904
  -955
  -1,008
  -1,065
  -1,122
  -1,183
  -1,246
  -1,313
  -1,382
  -1,455
  -1,531
  -1,610
  -1,693
  -1,780
  -1,872
  -1,968
Free cash flow, $m
  433
  518
  612
  712
  818
  930
  1,049
  1,174
  1,304
  1,441
  1,552
  1,701
  1,855
  2,016
  2,183
  2,357
  2,538
  2,726
  2,922
  3,125
  3,337
  3,558
  3,788
  4,028
  4,279
  4,540
  4,813
  5,098
  5,396
  5,708
Issuance/(repayment) of debt, $m
  569
  610
  648
  684
  720
  755
  790
  825
  860
  896
  932
  969
  1,007
  1,046
  1,087
  1,130
  1,175
  1,222
  1,271
  1,323
  1,378
  1,436
  1,496
  1,561
  1,628
  1,700
  1,775
  1,855
  1,939
  2,027
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  569
  610
  648
  684
  720
  755
  790
  825
  860
  896
  932
  969
  1,007
  1,046
  1,087
  1,130
  1,175
  1,222
  1,271
  1,323
  1,378
  1,436
  1,496
  1,561
  1,628
  1,700
  1,775
  1,855
  1,939
  2,027
Total cash flow (excl. dividends), $m
  1,002
  1,129
  1,259
  1,396
  1,538
  1,686
  1,839
  1,999
  2,164
  2,336
  2,484
  2,669
  2,862
  3,062
  3,270
  3,487
  3,713
  3,948
  4,193
  4,448
  4,715
  4,994
  5,285
  5,589
  5,907
  6,240
  6,588
  6,953
  7,335
  7,735
Retained Cash Flow (-), $m
  -148
  -156
  -166
  -175
  -185
  -194
  -203
  -211
  -220
  -230
  -239
  -248
  -258
  -268
  -279
  -290
  -301
  -313
  -326
  -339
  -353
  -368
  -384
  -400
  -417
  -436
  -455
  -475
  -497
  -520
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  854
  972
  1,093
  1,220
  1,353
  1,492
  1,637
  1,787
  1,944
  2,107
  2,245
  2,421
  2,604
  2,794
  2,992
  3,197
  3,411
  3,635
  3,867
  4,109
  4,362
  4,626
  4,901
  5,189
  5,490
  5,804
  6,133
  6,478
  6,838
  7,216
Discount rate, %
  5.80
  6.09
  6.39
  6.71
  7.05
  7.40
  7.77
  8.16
  8.57
  9.00
  9.45
  9.92
  10.42
  10.94
  11.48
  12.06
  12.66
  13.29
  13.96
  14.66
  15.39
  16.16
  16.97
  17.81
  18.71
  19.64
  20.62
  21.65
  22.74
  23.87
PV of cash for distribution, $m
  807
  864
  908
  941
  963
  972
  969
  954
  928
  890
  832
  778
  718
  653
  586
  517
  450
  384
  323
  267
  216
  171
  133
  101
  75
  55
  39
  27
  18
  12
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company's segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM). The Company's LGM segment manufactures and sells Fasson-, JAC-, and Avery Dennison-brand pressure-sensitive label and packaging materials, Avery Dennison- and Mactac-brand graphics, and Avery Dennison-brand reflective products. The Company's RBIS segment designs, manufactures and sells a range of branding and information solutions to retailers, brand owners, apparel manufacturers, distributors and industrial customers on a global basis. The Company's IHM segment manufactures and sells Fasson-brand and Avery Dennison-brand tapes and fasteners, Vancive-brand medical pressure-sensitive adhesive (PSA) based materials and products, and performance polymers.

FINANCIAL RATIOS  of  Avery Dennison (AVY)

Valuation Ratios
P/E Ratio 26.8
Price to Sales 1.4
Price to Book 9.3
Price to Tangible Book
Price to Cash Flow 14.7
Price to Free Cash Flow 22.8
Growth Rates
Sales Growth Rate 2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 36.2%
Cap. Spend. - 3 Yr. Gr. Rate 2.7%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 77.1%
Total Debt to Equity 139.6%
Interest Coverage 9
Management Effectiveness
Return On Assets 8.5%
Ret/ On Assets - 3 Yr. Avg. 7.4%
Return On Total Capital 15.1%
Ret/ On T. Cap. - 3 Yr. Avg. 12.8%
Return On Equity 33.9%
Return On Equity - 3 Yr. Avg. 26.8%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 27.9%
Gross Margin - 3 Yr. Avg. 27.2%
EBITDA Margin 11.8%
EBITDA Margin - 3 Yr. Avg. 10.9%
Operating Margin 7.9%
Oper. Margin - 3 Yr. Avg. 6.8%
Pre-Tax Margin 7.8%
Pre-Tax Margin - 3 Yr. Avg. 6.8%
Net Profit Margin 5.3%
Net Profit Margin - 3 Yr. Avg. 4.6%
Effective Tax Rate 32.7%
Eff/ Tax Rate - 3 Yr. Avg. 32.4%
Payout Ratio 44.5%

AVY stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the AVY stock intrinsic value calculation we used $6613.8 million for the last fiscal year's total revenue generated by Avery Dennison. The default revenue input number comes from 0001 income statement of Avery Dennison. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our AVY stock valuation model: a) initial revenue growth rate of 14% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.8%, whose default value for AVY is calculated based on our internal credit rating of Avery Dennison, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Avery Dennison.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of AVY stock the variable cost ratio is equal to 83.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $410 million in the base year in the intrinsic value calculation for AVY stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Avery Dennison.

Corporate tax rate of 27% is the nominal tax rate for Avery Dennison. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the AVY stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for AVY are equal to 22.8%.

Life of production assets of 11.3 years is the average useful life of capital assets used in Avery Dennison operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for AVY is equal to 4.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1046.2 million for Avery Dennison - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 87.418 million for Avery Dennison is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Avery Dennison at the current share price and the inputted number of shares is $8.5 billion.

RELATED COMPANIES Price Int.Val. Rating
MMM 3M 199.85 232.48  hold
BMS Bemis 45.91 34.97  sell

COMPANY NEWS

▶ Triad company buys industrial building for $2.5 million   [06:30AM  American City Business Journals]
▶ Avery Dennison Declares Quarterly Dividend   [Jul-26-18 06:45AM  Business Wire]
▶ Avery Dennison: 2Q Earnings Snapshot   [06:53AM  Associated Press]
▶ Avery Dennison Upcoming Investor Events   [Jul-13-18 06:00PM  Business Wire]
▶ 5 Top Stocks to Buy With Solid Earnings Acceleration   [Jun-07-18 12:35PM  InvestorPlace]
▶ Avery Dennison Increases Quarterly Dividend   [Apr-26-18 04:15PM  Business Wire]
▶ Avery Dennison: 1Q Earnings Snapshot   [07:01AM  Associated Press]
▶ Avery Dennison Upcoming Investor Events   [Apr-12-18 05:00PM  Business Wire]
▶ Stocks That Could Be Hit by a Trade War With China   [Apr-09-18 09:13AM  Investopedia]
▶ Company News For Feb 1, 2018   [Feb-01-18 10:10AM  Zacks]
▶ Avery Dennison reports 4Q loss   [07:03AM  Associated Press]
▶ Avery Dennison Declares Quarterly Dividend   [06:55AM  Business Wire]
▶ Five Companies Hit 52-Week Highs   [Jan-30-18 11:46AM  GuruFocus.com]
▶ Avery Dennison Upcoming Investor Events   [07:00AM  Business Wire]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.