Albany International (NYSE:AIN – Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $3.55-4.05 for the period, compared to the consensus EPS 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.
Analysts Set New Price Targets
Several research firms recently commented on AIN. Truist Financial increased their target price on shares of Albany International from $105.00 to $121.00 and gave the company a buy rating in a report on Wednesday, January 10th. Bank of America reaffirmed an underperform rating and set a $95.00 target price (down previously from $105.00) on shares of Albany International in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $110.50.
View Our Latest Stock Report on Albany International
Albany International Trading Up 0.7 %
Albany International (NYSE:AIN – Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The textile maker reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.38. The business had revenue of $323.60 million during the quarter, compared to analysts’ expectations of $298.17 million. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 EPS. Equities research analysts anticipate that Albany International will post 3.93 EPS for the current year.
Albany International Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.26 dividend. The ex-dividend date of this dividend 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 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.
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