Albany International (NYSE:AIN – Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 3.550-4.050 for the period, compared to the consensus earnings per share estimate of 3.970. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. Albany International also updated its FY24 guidance to $3.55-4.05 EPS.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. Truist Financial upped their target price on shares of Albany International from $105.00 to $121.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Bank of America restated an underperform rating and set a $95.00 target price (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Albany International currently has an average rating of Moderate Buy and a consensus price target of $110.50.
Check Out Our Latest Stock Report on AIN
Albany International Stock Performance
Albany International (NYSE:AIN – Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The textile maker reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.38. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The firm had revenue of $323.60 million for the quarter, compared to analysts’ expectations of $298.17 million. During the same quarter in the prior year, the business earned $0.75 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, sell-side analysts expect that Albany International will post 3.93 earnings per share for the current year.
Albany International Announces Dividend
The firm 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. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s dividend payout ratio (DPR) is presently 29.30%.
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.
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