Albany International (NYSE:AIN) Announces Quarterly Earnings Results

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

Albany International Stock Up 1.5 %

AIN traded up $1.24 during trading hours on Thursday, hitting $82.95. 56,150 shares of the company’s stock were exchanged, compared to its average volume of 144,619. Albany International has a 12-month low of $78.20 and a 12-month high of $99.41. The firm has a 50 day moving average of $90.98 and a 200 day moving average of $89.65. The company has a current ratio of 3.99, a quick ratio of 2.85 and a debt-to-equity ratio of 0.45. The firm has a market cap of $2.59 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28.

Albany International Announces Dividend

The firm also recently announced 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. This represents a $1.04 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, March 14th. Albany International’s payout ratio is currently 29.21%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Truist Financial decreased 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. Bank of America reissued an “underperform” rating and issued a $95.00 price target (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. Finally, TD Cowen reduced their price target on shares of Albany International from $106.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.