Albany International (AIN) Scheduled to Post Quarterly Earnings on Wednesday

Albany International (NYSE:AIN - Get Free Report) will release its earnings data 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.Persons 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 results on Tuesday, August 6th. The textile maker reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Albany International had a return on equity of 13.13% and a net margin of 8.76%. The company had revenue of $331.99 million for the quarter, compared to analysts' expectations of $318.17 million. During the same quarter in the previous year, the business earned $0.90 EPS. The company's revenue for the quarter was up 21.1% on a year-over-year basis. 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 Stock Performance

Shares of AIN stock traded up $1.04 during trading hours on Wednesday, hitting $73.31. 179,633 shares of the company were exchanged, compared to its average volume of 152,727. The firm has a fifty day simple moving average of $84.21 and a 200 day simple moving average of $86.20. The company has a current ratio of 3.59, a quick ratio of 2.87 and a debt-to-equity ratio of 0.38. Albany International has a 52-week low of $69.19 and a 52-week high of $99.41. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 2.39 and a beta of 1.25.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Tuesday, September 3rd were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.42%. The ex-dividend date was Tuesday, September 3rd. Albany International's dividend payout ratio (DPR) is presently 29.21%.

Wall Street Analyst Weigh In

Several research analysts recently commented on AIN shares. TD Cowen cut their price objective on shares of Albany International from $95.00 to $81.00 and set a "buy" rating for the company in a report on Friday, October 4th. Truist Financial cut their price objective on shares of Albany International from $101.00 to $91.00 and set a "buy" rating for the company in a report on Thursday, October 3rd. Finally, StockNews.com raised shares of Albany International from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $89.50.

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.