Albany International (NYSE:AIN) Releases FY 2024 Earnings Guidance

Albany International (NYSE:AIN) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 3.550-4.050 for the period, compared to the consensus 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.

Albany International Price Performance

Shares of NYSE:AIN traded down $7.74 during midday trading on Tuesday, hitting $80.56. The company had a trading volume of 158,099 shares, compared to its average volume of 139,097. Albany International has a twelve month low of $78.20 and a twelve month high of $99.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.53 and a quick ratio of 2.85. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.26 and a beta of 1.26. The business’s 50-day simple moving average is $91.45 and its 200-day simple moving average is $89.74.

Albany International (NYSE:AIN) last posted its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.90 EPS for the quarter, beating 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 analysts’ expectations of $313.41 million. During the same quarter last year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter 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 year.

Albany International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a yield of 1.29%. Albany International’s dividend payout ratio (DPR) is 29.30%.

Analyst Ratings Changes

Several research analysts have recently commented on AIN shares. Truist Financial raised their price target on Albany International from $105.00 to $121.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. 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 report 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $110.50.

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.