Albany International (NYSE:AIN) Announces Quarterly Earnings Results

Key Points

• Albany International beat quarterly expectations: The company reported EPS of $1.68, exceeding the $1.48 consensus estimate, while revenue reached $349.54 million versus expectations of $326.12 million.
• Shares edged lower: The stock fell 0.2% to $62.55, with a market capitalization of approximately $1.78 billion and a negative P/E ratio reflecting recent losses.
• Analyst sentiment remains cautious: Although some firms raised their price targets and one upgraded the stock to “buy,” the consensus rating is “Reduce,” with an average price target of $67.67. Albany also maintains a quarterly dividend of $0.28 per share, yielding about 1.8%.

Albany International (NYSE:AIN - Get Free Report) released its quarterly earnings data on Wednesday. The textile maker reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.20, FiscalAI reports. The company had revenue of $349.54 million during the quarter, compared to analyst estimates of $326.12 million. Albany International had a negative net margin of 4.18% and a positive return on equity of 10.76%.

Albany International Stock Down 0.2%

Shares of NYSE:AIN traded down $0.15 on Wednesday, reaching $62.55. The company had a trading volume of 197,658 shares, compared to its average volume of 271,370. Albany International has a twelve month low of $41.15 and a twelve month high of $77.00. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $60.34 and a 200 day moving average price of $61.64. The stock has a market capitalization of $1.78 billion, a P/E ratio of -35.95, a P/E/G ratio of 1.49 and a beta of 1.17.

Albany International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, September 1st. Albany International's dividend payout ratio (DPR) is -64.37%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AIN. Weiss Ratings raised shares of Albany International from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, October 20th. JPMorgan Chase & Co. boosted their price objective on shares of Albany International from $61.00 to $67.00 and gave the company a "neutral" rating in a research report on Friday, October 9th. Robert W. Baird lifted their target price on Albany International from $64.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday, September 3rd. Finally, Wall Street Zen upgraded Albany International from a "hold" rating to a "buy" rating in a research report on Sunday, October 11th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $67.67.

Albany International Company Profile

Albany International Corporation is an advanced materials and engineered products company serving the paper, aerospace and defense industries. Founded in 1895, the company develops and manufactures specialized textiles, composite materials and related process technologies for industrial applications.

Albany International operates through two primary businesses. Its Machine Clothing segment produces engineered fabrics and process belts used in paper manufacturing, including forming fabrics, press felts, dryer fabrics and other products that support papermaking efficiency and quality.

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