Albany International (AIN) Set to Announce Earnings on Wednesday

by · The Markets Daily

Albany International (NYSE:AIN – Get Free Report) will be announcing its earnings results after the market closes on Wednesday, October 30th. Analysts expect Albany International to post earnings of $0.45 per share for the quarter. Albany International has set its FY24 guidance at $3.55 to $4.05 EPS and its FY 2024 guidance at 3.550-4.050 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Albany International (NYSE:AIN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The business had revenue of $331.99 million for the quarter, compared to analyst estimates of $318.17 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, analysts expect Albany International to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Albany International Trading Up 1.6 %

AIN opened at $72.25 on Tuesday. The firm has a market capitalization of $2.25 billion, a PE ratio of 20.29, a P/E/G ratio of 2.39 and a beta of 1.25. The company has a debt-to-equity ratio of 0.38, a current ratio of 3.59 and a quick ratio of 2.87. Albany International has a fifty-two week low of $69.19 and a fifty-two week high of $99.41. The company’s 50-day moving average is $83.22 and its 200 day moving average is $85.84.

Albany International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Tuesday, September 3rd were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.44%. Albany International’s payout ratio is 29.21%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AIN. StockNews.com raised shares of Albany International from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. TD Cowen dropped their target price on shares of Albany International from $95.00 to $81.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, Truist Financial cut their target price on Albany International from $101.00 to $91.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $89.50.

Read Our Latest Analysis on Albany International

Albany International Company Profile

(Get Free Report)

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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