Albany International (NYSE:AIN) Releases Earnings Results, Beats Estimates By $0.03 EPS

Albany International (NYSE:AIN) posted its quarterly earnings data on Tuesday. The textile maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $313.41 million. During the same period in the prior year, the business posted $0.91 EPS. The company’s quarterly revenue was up 16.4% on a year-over-year basis.

Albany International Price Performance

Albany International stock traded up $1.04 during mid-day trading on Thursday, reaching $82.75. The company had a trading volume of 71,319 shares, compared to its average volume of 144,820. Albany International has a fifty-two week low of $78.20 and a fifty-two week high of $99.41. The company has a current ratio of 3.99, a quick ratio of 2.85 and a debt-to-equity ratio of 0.45. The company has a market cap of $2.58 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.06 and a beta of 1.28. The business has a fifty day simple moving average of $90.98 and a 200 day simple moving average of $89.65.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.26 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a yield of 1.26%. Albany International’s dividend payout ratio is currently 29.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AIN shares. Bank of America reaffirmed 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. TD Cowen lowered their price target on shares of Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Truist Financial lowered their price target on shares of Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.50.

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.