Albany International (NYSE:AIN) Posts Earnings Results, Beats Expectations By $0.03 EPS

Albany International (NYSE:AIN - Get Free Report) issued its quarterly earnings results on Tuesday. The textile maker reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.03, Yahoo Finance reports. The company had revenue of $313.33 million during the quarter, compared to the consensus estimate of $313.41 million. Albany International had a net margin of 9.68% and a return on equity of 13.70%. The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 EPS.

Albany International Stock Down 9.7 %

Albany International stock traded down $8.55 during midday trading on Tuesday, reaching $79.75. The stock had a trading volume of 519,197 shares, compared to its average volume of 143,526. The company has a fifty day moving average price of $91.45 and a two-hundred day moving average price of $89.74. 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 company has a market capitalization of $2.49 billion, a P/E ratio of 24.87, a PEG ratio of 2.26 and a beta of 1.26.

Albany International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 annualized dividend and a dividend yield of 1.30%. Albany International's dividend payout ratio is currently 29.30%.

Analysts Set New Price Targets

A number of research firms have recently commented on AIN. Truist Financial boosted their price target on Albany International from $105.00 to $121.00 and gave the stock a "buy" rating in a report on Wednesday, January 10th. Bank of America reiterated an "underperform" rating and issued a $95.00 price target (down from $105.00) on shares of Albany International in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Albany International currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.50.

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.