Albany International (NYSE:AIN) Releases FY24 Earnings Guidance

Albany International (NYSE:AIN) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.90-3.40 for the period, compared to the consensus estimate of $3.76. The company issued revenue guidance of $1.22-1.26 billion, compared to the consensus revenue estimate of $1.29 billion. Albany International also updated its FY 2024 guidance to 2.900-3.400 EPS.

Albany International Stock Performance

Shares of NYSE AIN opened at $77.72 on Friday. The company has a market cap of $2.42 billion, a PE ratio of 21.83, a P/E/G ratio of 2.42 and a beta of 1.25. 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 12-month low of $77.07 and a 12-month high of $99.41. The stock has a 50 day simple moving average of $87.95 and a 200-day simple moving average of $87.87.

Albany International (NYSE:AIN) last posted its quarterly earnings data on Tuesday, August 6th. The textile maker reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). Albany International had a net margin of 8.76% and a return on equity of 13.13%. The company had revenue of $331.99 million for the quarter, compared to analyst estimates of $318.17 million. During the same quarter in the prior year, the business earned $0.90 EPS. Albany International’s revenue was up 21.1% compared to the same quarter last year. On average, equities research analysts forecast that Albany International will post 3.71 EPS for the current year.

Albany International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Tuesday, September 3rd will be issued a $0.26 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.04 annualized dividend and a dividend yield of 1.34%. Albany International’s dividend payout ratio is currently 29.21%.

Analysts Set New Price Targets

AIN has been the topic of a number of recent research reports. Truist Financial decreased their target price on Albany International from $101.00 to $91.00 and set a buy rating on the stock in a report on Thursday. TD Cowen decreased their target price on shares of Albany International from $95.00 to $81.00 and set a buy rating for the company in a report on Friday. Finally, StockNews.com raised shares of Albany International from a hold rating to a buy rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Albany International has a consensus rating of Hold and an average target price 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.