Albany International (NYSE:AIN) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

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

Albany International Price Performance

AIN traded up $1.28 during trading on Thursday, hitting $82.99. 54,831 shares of the stock traded hands, compared to its average volume of 144,600. Albany International has a twelve month low of $78.20 and a twelve month high of $99.41. 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. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.99 and a quick ratio of 2.85. The business has a 50 day moving average price of $90.98 and a 200 day moving average price of $89.65.

Albany International Announces Dividend

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

Analysts Set New Price Targets

AIN has been the subject of several recent research reports. Bank of America reiterated 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. Truist Financial cut their price target on Albany International from $121.00 to $104.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, TD Cowen cut their price target on Albany International from $106.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.50.

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.