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

Albany International (NYSE:AIN) announced its quarterly earnings results on Monday. The textile maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03, Yahoo Finance reports. The business had revenue of $313.33 million for the quarter, compared to analysts’ expectations of $313.41 million. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. 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 Price Performance

Shares of Albany International stock opened at $88.30 on Tuesday. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.26 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.85 and a current ratio of 3.53. The stock has a 50 day moving average price of $91.45 and a 200-day moving average price of $89.74. Albany International has a one year low of $78.20 and a one year high of $99.41.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders 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 (DPR) is presently 29.30%.

Wall Street Analyst Weigh In

AIN has been the subject of several research analyst reports. Bank of America restated an “underperform” rating and set a $95.00 price target (down previously from $105.00) on shares of Albany International in a report on Thursday, March 28th. Truist Financial boosted their price target on shares of Albany International from $105.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.50.

About Albany International

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.