Albany International (NYSE:AIN) Issues Earnings Results

Albany International (NYSE:AIN) posted its quarterly earnings data on Wednesday. The textile maker reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.20, FiscalAI reports. The business had revenue of $349.54 million during the quarter, compared to the consensus estimate of $326.12 million. Albany International had a positive return on equity of 10.76% and a negative net margin of 4.18%.

Albany International Stock Down 0.2%

Shares of AIN traded down $0.15 on Wednesday, hitting $62.55. 197,658 shares of the stock traded hands, compared to its average volume of 271,370. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.89 and a current ratio of 2.24. Albany International has a one year low of $41.15 and a one year high of $77.00. The company has a market capitalization of $1.78 billion, a PE ratio of -35.95, a P/E/G ratio of 1.49 and a beta of 1.17. The business has a 50 day simple moving average of $60.34 and a 200 day simple moving average of $61.64.

Albany International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.28 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.8%. Albany International’s dividend payout ratio is presently -64.37%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AIN. JPMorgan Chase & Co. raised their price target on Albany International from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, October 9th. Weiss Ratings upgraded Albany International from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, October 20th. Robert W. Baird boosted their price objective on Albany International from $64.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Finally, Wall Street Zen upgraded Albany International from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $67.67.

About Albany International

Albany International Corporation is an advanced materials and engineered products company serving the paper, aerospace and defense industries. Founded in 1895, the company develops and manufactures specialized textiles, composite materials and related process technologies for industrial applications.

Albany International operates through two primary businesses. Its Machine Clothing segment produces engineered fabrics and process belts used in paper manufacturing, including forming fabrics, press felts, dryer fabrics and other products that support papermaking efficiency and quality.