Albany International (AIN) to Release Earnings on Wednesday

Albany International (NYSE:AIN) is set to post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Albany International to post earnings of $0.45 per share for the quarter. Albany International has set its FY24 guidance at $3.55 to $4.05 EPS and its FY 2024 guidance at 3.550-4.050 EPS.

Albany International (NYSE:AIN) last issued its earnings results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $331.99 million during the quarter, compared to the consensus estimate of $318.17 million. Albany International had a return on equity of 13.13% and a net margin of 8.76%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 EPS. On average, analysts expect Albany International to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Albany International Trading Down 1.6 %

Shares of NYSE AIN opened at $72.27 on Wednesday. The company has a market cap of $2.25 billion, a PE ratio of 20.30, a P/E/G ratio of 2.39 and a beta of 1.25. The firm’s 50 day moving average price is $84.21 and its 200-day moving average price is $86.20. Albany International has a 52-week low of $69.19 and a 52-week high of $99.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.87 and a current ratio of 3.59.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.44%. Albany International’s dividend payout ratio (DPR) is 29.21%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Truist Financial lowered their price objective on shares of Albany International from $101.00 to $91.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. TD Cowen lowered their price objective on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, StockNews.com upgraded shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.50.

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.