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

Albany International (NYSE:AIN) announced its quarterly earnings data on Tuesday. The textile maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03, Yahoo Finance reports. Albany International had a return on equity of 13.40% and a net margin of 9.35%. The firm had revenue of $313.33 million for the quarter, compared to analysts’ expectations of $313.41 million. During the same period last year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year.

Albany International Stock Up 1.5 %

AIN traded up $1.24 on Thursday, hitting $82.95. The company had a trading volume of 56,150 shares, compared to its average volume of 144,619. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 2.85. Albany International has a 52-week low of $78.20 and a 52-week high of $99.41. The stock has a fifty day simple moving average of $90.98 and a 200-day simple moving average of $89.65. The firm has a market capitalization of $2.59 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.06 and a beta of 1.28.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 annualized dividend and a yield of 1.25%. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Truist Financial reduced their price objective on Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America reaffirmed an “underperform” rating and set a $95.00 price objective (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. Finally, TD Cowen dropped their target price on shares of Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.50.

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.