Albany International (NYSE:AIN) Issues FY24 Earnings Guidance

Albany International (NYSE:AIN) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $3.55-4.05 for the period, compared to the consensus estimate of $3.97. The company issued revenue guidance of $1.26-1.33 billion, compared to the consensus revenue estimate of $1.30 billion. Albany International also updated its FY 2024 guidance to 3.550-4.050 EPS.

Albany International Trading Up 2.4 %

Shares of NYSE AIN opened at $81.63 on Thursday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 2.28 and a beta of 1.25. The business has a 50 day simple moving average of $90.98 and a 200 day simple moving average of $89.65. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.85 and a current ratio of 3.53. Albany International has a 52 week low of $78.20 and a 52 week high of $99.41.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Albany International had a net margin of 9.35% and a return on equity of 13.54%. The company had revenue of $313.33 million for the quarter, compared to analyst estimates of $313.41 million. During the same quarter in the prior year, the business posted $0.91 EPS. Albany International’s quarterly revenue was up 16.4% on a year-over-year basis. On average, research analysts predict that Albany International will post 3.93 earnings per share for the current fiscal year.

Albany International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 annualized dividend and a dividend yield of 1.27%. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Truist Financial decreased their target price on Albany International from $121.00 to $104.00 and set a buy rating for the company in a research report on Wednesday. TD Cowen decreased their price objective on shares of Albany International from $106.00 to $95.00 and set a buy rating for the company in a report on Wednesday. Finally, Bank of America reiterated an underperform rating and issued a $95.00 target price (down 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 issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average 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.