$0.73 EPS Expected for Albany International Corp. (AIN) This Quarter

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Brokerages forecast that Albany International Corp. (NYSE:AIN) will report earnings per share of $0.73 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Albany International’s earnings, with the lowest EPS estimate coming in at $0.67 and the highest estimate coming in at $0.78. Albany International reported earnings of $0.54 per share during the same quarter last year, which would suggest a positive year over year growth rate of 35.2%. The business is scheduled to report its next earnings results on Monday, May 6th.

According to Zacks, analysts expect that Albany International will report full year earnings of $3.49 per share for the current year, with EPS estimates ranging from $3.25 to $3.72. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.98 per share, with EPS estimates ranging from $3.85 to $4.11. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Albany International.

Albany International (NYSE:AIN) last posted its earnings results on Monday, February 11th. The textile maker reported $0.54 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.09). Albany International had a return on equity of 14.79% and a net margin of 8.72%. The business had revenue of $251.61 million for the quarter, compared to analyst estimates of $251.50 million.

Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Albany International from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Robert W. Baird initiated coverage on shares of Albany International in a research note on Friday, February 22nd. They issued an “outperform” rating and a $93.00 target price for the company. Sidoti cut their price target on shares of Albany International from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Monday, December 17th. Finally, Noble Financial reissued a “hold” rating on shares of Albany International in a report on Sunday, December 9th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $83.00.

Large investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its stake in shares of Albany International by 16.4% during the fourth quarter. LS Investment Advisors LLC now owns 1,617 shares of the textile maker’s stock valued at $101,000 after purchasing an additional 228 shares during the period. Quantamental Technologies LLC acquired a new stake in Albany International in the 4th quarter valued at $111,000. Meeder Asset Management Inc. acquired a new stake in Albany International in the 4th quarter valued at $116,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Albany International by 45.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,224 shares of the textile maker’s stock valued at $139,000 after purchasing an additional 700 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Albany International by 59.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,399 shares of the textile maker’s stock valued at $151,000 after purchasing an additional 897 shares in the last quarter. 86.08% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE AIN traded down $3.98 during midday trading on Tuesday, reaching $70.27. The stock had a trading volume of 152,151 shares, compared to its average volume of 133,680. The company has a market capitalization of $2.26 billion, a P/E ratio of 27.34 and a beta of 1.74. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.68 and a current ratio of 3.13. Albany International has a twelve month low of $57.95 and a twelve month high of $82.20.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Monday, March 18th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, March 15th. Albany International’s dividend payout ratio (DPR) is presently 28.02%.

About Albany International

Albany International Corp. engages in textile and materials processing businesses worldwide. The company operates through two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing. This segment offers forming, pressing, dryer fabrics, and process belts.

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