Albany International (NYSE:AIN) Issues FY22 Earnings Guidance

Albany International (NYSE:AINGet Rating) updated its FY22 earnings guidance on Monday. The company provided EPS guidance of $2.80-3.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.37. The company issued revenue guidance of $920-960 million, compared to the consensus revenue estimate of $960.65 million.Albany International also updated its FY 2022 guidance to $2.800-$3.300 EPS.

A number of analysts have recently commented on the stock. Truist Financial raised shares of Albany International from a hold rating to a buy rating and boosted their target price for the stock from $85.00 to $100.00 in a research note on Friday, January 7th. StockNews.com began coverage on shares of Albany International in a research note on Thursday, March 31st. They set a buy rating for the company. Bank of America reaffirmed a neutral rating and set a $90.00 price objective (down previously from $105.00) on shares of Albany International in a research note on Tuesday, February 22nd. Finally, Zacks Investment Research cut shares of Albany International from a hold rating to a sell rating in a research note on Monday, January 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Albany International presently has an average rating of Hold and a consensus price target of $95.33.

Shares of AIN stock traded down $3.32 during trading hours on Tuesday, reaching $80.01. 1,809 shares of the company’s stock were exchanged, compared to its average volume of 163,800. The firm has a market cap of $2.55 billion, a P/E ratio of 22.19, a P/E/G ratio of 4.88 and a beta of 1.33. The business’s 50 day simple moving average is $84.89. Albany International has a 1 year low of $74.17 and a 1 year high of $93.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.08 and a current ratio of 3.65.

Albany International (NYSE:AINGet Rating) last issued its earnings results on Monday, April 25th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.17. Albany International had a return on equity of 13.44% and a net margin of 12.75%. During the same quarter in the prior year, the business posted $0.87 earnings per share. Sell-side analysts forecast that Albany International will post 3.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Investors of record on Monday, March 21st were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.05%. The ex-dividend date was Friday, March 18th. Albany International’s payout ratio is 23.01%.

Hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp increased its stake in shares of Albany International by 0.4% during the 4th quarter. Stifel Financial Corp now owns 50,623 shares of the textile maker’s stock valued at $4,478,000 after acquiring an additional 223 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Albany International by 2.3% during the 4th quarter. California State Teachers Retirement System now owns 42,758 shares of the textile maker’s stock valued at $3,782,000 after acquiring an additional 969 shares during the last quarter. Credit Suisse AG increased its position in Albany International by 0.8% during the 4th quarter. Credit Suisse AG now owns 36,622 shares of the textile maker’s stock worth $3,239,000 after purchasing an additional 303 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Albany International by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 26,351 shares of the textile maker’s stock worth $2,331,000 after purchasing an additional 178 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Albany International by 4.3% during the 4th quarter. Deutsche Bank AG now owns 20,793 shares of the textile maker’s stock worth $1,839,000 after purchasing an additional 860 shares in the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Albany International Company Profile (Get Rating)

Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, and towels.

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