Albany International (NYSE:AIN) Issues FY24 Earnings Guidance

Albany International (NYSE:AIN) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $3.10-3.30 for the period, compared to the consensus EPS estimate of $3.39. The company issued revenue guidance of $1.23-1.25 billion, compared to the consensus revenue estimate of $1.26 billion.

Analyst Upgrades and Downgrades

AIN has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. TD Cowen reduced their price objective on Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Finally, Truist Financial lowered their target price on Albany International from $101.00 to $91.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Albany International has a consensus rating of “Hold” and a consensus price target of $89.50.

Albany International Trading Down 1.3 %

AIN stock traded down $0.92 during trading on Wednesday, hitting $70.75. The company had a trading volume of 185,565 shares, compared to its average volume of 154,253. The company has a quick ratio of 2.87, a current ratio of 3.59 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $82.53 and a 200-day moving average price of $85.58. Albany International has a 12 month low of $69.19 and a 12 month high of $99.41. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.39 and a beta of 1.25.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.02). Albany International had a return on equity of 13.13% and a net margin of 8.76%. The company had revenue of $331.99 million during the quarter, compared to the consensus estimate of $318.17 million. During the same quarter last year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, analysts predict that Albany International will post 3.11 earnings per share for the current year.

Albany International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, September 3rd. Albany International’s payout ratio is 29.21%.

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.