$0.73 Earnings Per Share Expected for Albany International Corp. (NYSE:AIN) This Quarter

Wall Street analysts forecast that Albany International Corp. (NYSE:AINGet Rating) will post earnings of $0.73 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Albany International’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.72. Albany International reported earnings per share of $0.87 during the same quarter last year, which would indicate a negative year-over-year growth rate of 16.1%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Albany International will report full-year earnings of $3.16 per share for the current financial year, with EPS estimates ranging from $3.01 to $3.30. For the next financial year, analysts expect that the firm will report earnings of $3.56 per share, with EPS estimates ranging from $3.20 to $3.83. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Albany International.

Albany International (NYSE:AINGet Rating) last issued its quarterly earnings results on Tuesday, February 15th. The textile maker reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.25. The firm had revenue of $239.92 million for the quarter, compared to analyst estimates of $224.76 million. Albany International had a net margin of 12.75% and a return on equity of 13.44%. During the same period in the previous year, the business earned $0.89 EPS.

Several research firms have recently weighed in on AIN. Bank of America restated a “neutral” rating and set a $90.00 price objective (down from $105.00) on shares of Albany International in a research note on Tuesday, February 22nd. StockNews.com began coverage on shares of Albany International in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Truist Financial upgraded shares of Albany International from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $100.00 in a research note on Friday, January 7th. Finally, Zacks Investment Research downgraded shares of Albany International from a “hold” rating to a “sell” rating in a report on Monday, January 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $95.33.

Shares of Albany International stock traded down $1.67 during trading on Friday, hitting $83.11. 181,939 shares of the stock were exchanged, compared to its average volume of 162,884. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 4.68 and a beta of 1.33. The company has a fifty day moving average price of $85.16 and a 200-day moving average price of $85.06. Albany International has a 1-year low of $74.17 and a 1-year high of $93.43. The company has a current ratio of 3.65, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Investors of record on Monday, March 21st were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, March 18th. Albany International’s payout ratio is 23.01%.

Hedge funds have recently made changes to their positions in the stock. Truist Financial Corp boosted its holdings in Albany International by 23.7% in the 1st quarter. Truist Financial Corp now owns 27,830 shares of the textile maker’s stock valued at $2,346,000 after purchasing an additional 5,326 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Albany International by 3.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,222 shares of the textile maker’s stock valued at $1,031,000 after purchasing an additional 353 shares during the period. Inspire Investing LLC bought a new stake in Albany International in the 1st quarter valued at about $236,000. West Coast Financial LLC boosted its holdings in Albany International by 2.4% in the 1st quarter. West Coast Financial LLC now owns 80,479 shares of the textile maker’s stock valued at $6,786,000 after purchasing an additional 1,919 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Albany International by 24.3% in the 1st quarter. Fifth Third Bancorp now owns 8,530 shares of the textile maker’s stock valued at $719,000 after purchasing an additional 1,667 shares during the period. 98.25% of the stock is owned by institutional investors and hedge funds.

About Albany International (Get Rating)

Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, and towels.

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