Albany International (NYSE:AIN) Announces Earnings Results

Albany International (NYSE:AIN) issued its earnings results on Tuesday. The textile maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03, Yahoo Finance reports. The business had revenue of $313.33 million during the quarter, compared to analyst estimates of $313.41 million. Albany International had a return on equity of 13.40% and a net margin of 9.35%. Albany International’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 EPS.

Albany International Stock Performance

Shares of NYSE:AIN traded up $1.04 during mid-day trading on Thursday, reaching $82.75. 71,319 shares of the company traded hands, compared to its average volume of 144,820. The company’s 50 day moving average price is $90.98 and its 200-day moving average price is $89.65. The firm has a market cap of $2.58 billion, a PE ratio of 23.03, a PEG ratio of 2.06 and a beta of 1.28. 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.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors 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 dividend on an annualized basis and a dividend yield of 1.26%. Albany International’s dividend payout ratio (DPR) is presently 29.21%.

Analyst Ratings Changes

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