Albany International (NYSE:AIN) Issues Earnings Results

Albany International (NYSE:AIN) announced its earnings results on Tuesday. The textile maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03, Yahoo Finance reports. The business had revenue of $313.33 million during the quarter, compared to analyst estimates of $313.41 million. Albany International had a net margin of 9.35% and a return on equity of 13.40%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS.

Albany International Price Performance

Shares of NYSE AIN traded up $1.95 during mid-day trading on Thursday, reaching $83.66. The company’s stock had a trading volume of 198,605 shares, compared to its average volume of 146,306. The stock has a fifty day moving average of $90.98 and a two-hundred day moving average of $89.65. The firm has a market capitalization of $2.61 billion, a PE ratio of 23.03, a P/E/G ratio of 2.06 and a beta of 1.28. Albany International has a 52 week low of $78.20 and a 52 week high of $99.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 2.85.

Albany International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.26 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a dividend yield of 1.24%. Albany International’s payout ratio is 29.21%.

Analyst Ratings Changes

A number of analysts recently commented on AIN shares. Bank of America reiterated 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. Truist Financial decreased their price target on shares of Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, TD Cowen cut their price target on Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Albany International presently has a consensus rating of “Moderate Buy” and an average target price of $103.50.

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.