Albany International (NYSE:AIN) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Albany International (NYSE:AIN) issued its quarterly earnings results on Monday. The textile maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03, Yahoo Finance reports. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The company had revenue of $313.33 million for the quarter, compared to analyst estimates of $313.41 million. During the same quarter last year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. Albany International updated its FY24 guidance to $3.55-4.05 EPS and its FY 2024 guidance to 3.550-4.050 EPS.

Albany International Trading Up 0.7 %

Shares of AIN stock opened at $88.30 on Tuesday. The firm has a market capitalization of $2.75 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.26 and a beta of 1.26. Albany International has a twelve month low of $78.20 and a twelve month high of $99.41. The stock’s fifty day simple moving average is $91.45 and its 200 day simple moving average is $89.74. The company has a quick ratio of 2.85, a current ratio of 3.53 and a debt-to-equity ratio of 0.47.

Albany International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a yield of 1.18%. Albany International’s dividend payout ratio is currently 29.30%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AIN. Truist Financial lifted their price target on Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Bank of America restated an “underperform” rating and set a $95.00 price objective (down previously from $105.00) on shares of Albany International in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.50.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.