Albany International (NYSE:AIN) Issues FY24 Earnings Guidance

Albany International (NYSE:AIN) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $3.55-4.05 for the period, compared to the consensus earnings per share estimate of $3.97. The company issued revenue guidance of $1.26-1.33 billion, compared to the consensus revenue estimate of $1.30 billion. Albany International also updated its FY 2024 guidance to 3.550-4.050 EPS.

Albany International Stock Performance

NYSE:AIN opened at $88.30 on Tuesday. The company has a current ratio of 3.53, a quick ratio of 2.85 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.75 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 2.26 and a beta of 1.26. The firm has a 50 day moving average of $91.45 and a 200-day moving average of $89.74. Albany International has a 1 year low of $78.20 and a 1 year high of $99.41.

Albany International (NYSE:AIN) last announced its earnings results on Monday, April 29th. The textile maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The company had revenue of $313.33 million during the quarter, compared to the consensus estimate of $313.41 million. During the same period in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Albany International will post 3.93 EPS for the current fiscal year.

Albany International Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on AIN shares. Truist Financial lifted 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. Bank of America reiterated an underperform rating and set a $95.00 target price (down previously from $105.00) on shares of Albany International in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price 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.