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

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

Albany International Price Performance

Shares of NYSE AIN traded up $1.28 during trading on Thursday, hitting $82.99. 54,831 shares of the company were exchanged, compared to its average volume of 144,600. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.06 and a beta of 1.28. Albany International has a 1 year low of $78.20 and a 1 year high of $99.41. The firm’s fifty day moving average price is $90.98 and its 200 day moving average price is $89.65. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a dividend yield of 1.25%. Albany International’s payout ratio is currently 29.21%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America reaffirmed an “underperform” rating and issued a $95.00 target price (down from $105.00) on shares of Albany International in a report on Thursday, March 28th. Truist Financial cut their target price on shares of Albany International from $121.00 to $104.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, TD Cowen cut their target price on shares of Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus 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.