Albany International Corp. (AIN) Expected to Post Earnings of $0.85 Per Share

Equities research analysts forecast that Albany International Corp. (NYSE:AIN) will post earnings of $0.85 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 $0.87 and the lowest estimate coming in at $0.83. Albany International posted earnings per share of $0.82 in the same quarter last year, which would suggest a positive year over year growth rate of 3.7%. The company is scheduled to report its next quarterly earnings results on Monday, August 5th.

According to Zacks, analysts expect that Albany International will report full-year earnings of $3.39 per share for the current financial year, with EPS estimates ranging from $3.35 to $3.42. For the next financial year, analysts forecast that the company will post earnings of $3.98 per share, with EPS estimates ranging from $3.85 to $4.11. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for Albany International.

Albany International (NYSE:AIN) last announced its quarterly earnings results on Tuesday, April 30th. The textile maker reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.14. Albany International had a return on equity of 16.39% and a net margin of 10.41%. The company had revenue of $251.37 million for the quarter, compared to the consensus estimate of $253.75 million.

AIN has been the topic of a number of analyst reports. Zacks Investment Research upgraded Albany International from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Friday, May 3rd. Robert W. Baird initiated coverage on Albany International in a research report on Friday, February 22nd. They set an “outperform” rating and a $93.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $85.67.

Shares of NYSE:AIN traded down $0.17 during trading on Friday, reaching $76.34. 86,200 shares of the company’s stock traded hands, compared to its average volume of 135,917. Albany International has a fifty-two week low of $58.06 and a fifty-two week high of $82.20. The company has a quick ratio of 2.49, a current ratio of 2.99 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $2.49 billion, a PE ratio of 29.54 and a beta of 1.70.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 7th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.94%. Albany International’s dividend payout ratio (DPR) is presently 28.02%.

Several large investors have recently bought and sold shares of the company. Gilman Hill Asset Management LLC increased its holdings in shares of Albany International by 1.0% during the first quarter. Gilman Hill Asset Management LLC now owns 14,694 shares of the textile maker’s stock valued at $1,052,000 after acquiring an additional 150 shares in the last quarter. US Bancorp DE lifted its position in Albany International by 13.1% in the 1st quarter. US Bancorp DE now owns 1,333 shares of the textile maker’s stock valued at $96,000 after purchasing an additional 154 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Albany International by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,231 shares of the textile maker’s stock valued at $804,000 after purchasing an additional 203 shares during the last quarter. Comerica Bank lifted its position in Albany International by 0.7% in the 4th quarter. Comerica Bank now owns 29,768 shares of the textile maker’s stock valued at $2,007,000 after purchasing an additional 207 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. lifted its position in Albany International by 3.4% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,895 shares of the textile maker’s stock valued at $430,000 after purchasing an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 87.32% of the company’s stock.

Albany International Company Profile

Albany International Corp. engages in the textile and materials processing 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. This segment offers forming, pressing, and dryer fabrics, as well as process belts.

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