Albany International (NYSE:AIN – Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 3.550-4.050 for the period, compared to the consensus earnings per share estimate of 3.970. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. Albany International also updated its FY24 guidance to $3.55-4.05 EPS.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Truist Financial increased their target price on shares of Albany International from $105.00 to $121.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Bank of America reissued 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 research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Albany International currently has a consensus rating of Moderate Buy and an average price target of $110.50.
Get Our Latest Stock Analysis on Albany International
Albany International Stock Down 8.8 %
Albany International (NYSE:AIN – Get Free Report) last released its earnings results on Tuesday, April 30th. The textile maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $313.33 million during the quarter, compared to the consensus estimate of $313.41 million. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. As a group, research analysts anticipate that Albany International will post 3.93 earnings per share for the current year.
Albany International Announces Dividend
The company 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s dividend payout ratio (DPR) is presently 29.30%.
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.
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