Albany International (NYSE:AIN) Issues Quarterly Earnings Results

Albany International (NYSE:AIN) released its quarterly earnings results on Tuesday. The textile maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03, Yahoo Finance reports. The firm 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 9.35% and a return on equity of 13.54%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 earnings per share.

Albany International Stock Up 2.4 %

Shares of NYSE AIN opened at $81.63 on Thursday. Albany International has a 12-month low of $78.20 and a 12-month high of $99.41. The company has a quick ratio of 2.85, a current ratio of 3.53 and a debt-to-equity ratio of 0.47. The firm has a market cap of $2.55 billion, a PE ratio of 22.93, a P/E/G ratio of 2.28 and a beta of 1.25. The company’s fifty day simple moving average is $90.98 and its 200 day simple moving average is $89.65.

Albany International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.26 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a dividend yield of 1.27%. Albany International’s dividend payout ratio is currently 29.21%.

Analysts Set New Price Targets

AIN has been the topic of a number of analyst reports. TD Cowen reduced their price target on Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday. Bank of America reiterated an “underperform” rating and issued a $95.00 target price (down from $105.00) on shares of Albany International in a report on Thursday, March 28th. Finally, Truist Financial lowered their price target on shares of Albany International from $121.00 to $104.00 and set a “buy” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, Albany International currently has a consensus rating of “Moderate Buy” and a consensus price target 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.