Albany International (NYSE:AIN) Updates FY 2024 Earnings Guidance

Albany International (NYSE:AIN) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 3.550-4.050 for the period, compared to the consensus earnings per share estimate of 3.970. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. Albany International also updated its FY24 guidance to $3.55-4.05 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Bank of America reiterated an underperform rating and set a $95.00 price target (down previously from $105.00) on shares of Albany International in a research note on Thursday, March 28th. TD Cowen decreased 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. Finally, Truist Financial decreased their price target on shares of Albany International from $121.00 to $104.00 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 issued a buy rating to the company’s stock. According to MarketBeat.com, Albany International presently has a consensus rating of Moderate Buy and a consensus price target of $103.50.

Albany International Price Performance

Shares of NYSE AIN traded up $1.24 during midday trading on Thursday, reaching $82.95. 56,150 shares of the company traded hands, compared to its average volume of 144,619. The firm has a market cap of $2.59 billion, a PE ratio of 23.03, a PEG ratio of 2.06 and a beta of 1.28. The stock’s 50-day simple moving average is $90.98 and its 200-day simple moving average is $89.65. Albany International has a 12 month low of $78.20 and a 12 month high of $99.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.85 and a current ratio of 3.99.

Albany International (NYSE:AIN) last issued its quarterly earnings data on Tuesday, April 30th. The textile maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company 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 business’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the business earned $0.91 earnings per share. As a group, equities analysts anticipate that Albany International will post 3.93 earnings per share for the current fiscal year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.25%. Albany International’s dividend payout ratio is 29.21%.

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.