Albany International (NYSE:AIN) Issues FY24 Earnings Guidance

Albany International (NYSE:AIN) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $3.55-4.05 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AIN. Bank of America reiterated an underperform rating and issued a $95.00 price objective (down previously from $105.00) on shares of Albany International in a report on Thursday, March 28th. Truist Financial lifted their price target on shares of Albany International from $105.00 to $121.00 and gave the company a buy rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Albany International presently has a consensus rating of Moderate Buy and a consensus target price of $110.50.

Albany International Stock Up 0.7 %

Shares of NYSE:AIN opened at $88.30 on Tuesday. The company has a current ratio of 3.53, a quick ratio of 2.85 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $91.45 and a two-hundred day simple moving average of $89.74. Albany International has a 12-month low of $78.20 and a 12-month high of $99.41. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.26 and a beta of 1.26.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Monday, April 29th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The firm had revenue of $313.33 million during the quarter, compared to analyst estimates of $313.41 million. During the same quarter in the previous year, the firm earned $0.91 EPS. Albany International’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, research analysts anticipate that Albany International will post 3.93 earnings per share for the current fiscal year.

Albany International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.26 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a dividend yield of 1.18%. Albany International’s dividend payout ratio is presently 29.30%.

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.