Albany International (NYSE:AIN) Issues Earnings Results

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

Albany International Stock Performance

Shares of Albany International stock traded up $1.95 during trading on Thursday, hitting $83.66. 198,605 shares of the stock were exchanged, compared to its average volume of 146,306. The stock has a market cap of $2.61 billion, a PE ratio of 23.03, a P/E/G ratio of 2.06 and a beta of 1.28. The stock’s fifty day moving average is $90.98 and its 200 day moving average is $89.65. Albany International has a 12 month low of $78.20 and a 12 month high of $99.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.85 and a current ratio of 3.99.

Albany International Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on AIN. Bank of America restated an “underperform” rating and set a $95.00 price objective (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th. Truist Financial reduced their price objective on Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, TD Cowen lowered their target price on shares of Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Albany International presently has an average 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.