Albany International (AIN) to Release Quarterly Earnings on Monday

Albany International (NYSE:AIN) will be announcing its earnings results after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of $0.87 per share for the quarter. Albany International has set its FY 2024 guidance at 3.550-4.050 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Albany International (NYSE:AIN) last released its quarterly earnings data on Tuesday, February 27th. The textile maker reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.38. The business had revenue of $323.60 million for the quarter, compared to analysts’ expectations of $298.17 million. Albany International had a return on equity of 13.70% and a net margin of 9.68%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. On average, analysts expect Albany International to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Albany International Stock Performance

AIN stock opened at $88.23 on Monday. The stock has a market capitalization of $2.75 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 2.29 and a beta of 1.25. Albany International has a 12-month low of $78.20 and a 12-month high of $99.41. The company has a current ratio of 3.53, a quick ratio of 2.85 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $91.95 and its 200 day simple moving average is $89.66.

Albany International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were given a $0.26 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.04 annualized dividend and a yield of 1.18%. Albany International’s dividend payout ratio (DPR) is presently 29.30%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AIN shares. Bank of America reiterated an “underperform” rating and set a $95.00 target price (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. Truist Financial boosted their target price on shares of Albany International from $105.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $110.50.

Institutional Investors Weigh In On Albany International

A number of hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its stake in shares of Albany International by 244.8% in the 4th quarter. Bessemer Group Inc. now owns 462 shares of the textile maker’s stock worth $45,000 after purchasing an additional 328 shares in the last quarter. West Tower Group LLC increased its stake in shares of Albany International by 1,513.3% in the 4th quarter. West Tower Group LLC now owns 484 shares of the textile maker’s stock worth $48,000 after purchasing an additional 454 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Albany International in the 4th quarter worth $54,000. Captrust Financial Advisors increased its stake in shares of Albany International by 89.0% in the 1st quarter. Captrust Financial Advisors now owns 1,380 shares of the textile maker’s stock worth $117,000 after purchasing an additional 650 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its stake in shares of Albany International by 1,344.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,777 shares of the textile maker’s stock worth $140,000 after purchasing an additional 1,654 shares in the last quarter. 97.37% of the stock is currently owned by hedge funds and other institutional investors.

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.