Brokerages predict that Albany International Corp. (NYSE:AIN – Get Rating) will report sales of $225.57 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Albany International’s earnings. The highest sales estimate is $228.03 million and the lowest is $223.11 million. Albany International posted sales of $222.36 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The company is scheduled to report its next earnings results after the market closes on Monday, January 1st.
On average, analysts expect that Albany International will report full-year sales of $947.36 million for the current fiscal year, with estimates ranging from $934.34 million to $960.37 million. For the next financial year, analysts anticipate that the business will report sales of $1.05 billion, with estimates ranging from $1.05 billion to $1.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Albany International.
Albany International (NYSE:AIN – Get Rating) last issued its earnings results on Tuesday, February 15th. The textile maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.60 by $0.25. Albany International had a net margin of 12.75% and a return on equity of 13.44%. The company had revenue of $239.92 million for the quarter, compared to the consensus estimate of $224.76 million. During the same period in the previous year, the firm earned $0.89 earnings per share.
AIN has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Albany International from a “hold” rating to a “sell” rating in a research report on Monday, January 10th. Truist Financial raised shares of Albany International from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $100.00 in a research report on Friday, January 7th. StockNews.com initiated coverage on shares of Albany International in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Bank of America reissued a “neutral” rating and set a $90.00 price objective (down from $105.00) on shares of Albany International in a research report on Tuesday, February 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $95.33.
Hedge funds have recently made changes to their positions in the company. Voloridge Investment Management LLC bought a new position in Albany International in the 3rd quarter worth about $1,021,000. Squarepoint Ops LLC lifted its stake in Albany International by 40.7% during the 3rd quarter. Squarepoint Ops LLC now owns 19,540 shares of the textile maker’s stock valued at $1,502,000 after acquiring an additional 5,649 shares during the period. BNP Paribas Arbitrage SA lifted its stake in Albany International by 139.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 35,737 shares of the textile maker’s stock valued at $2,747,000 after acquiring an additional 20,798 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Albany International during the 3rd quarter valued at about $1,140,000. Finally, SG Americas Securities LLC lifted its stake in Albany International by 3,547.1% during the 3rd quarter. SG Americas Securities LLC now owns 57,880 shares of the textile maker’s stock valued at $4,449,000 after acquiring an additional 56,293 shares during the period. Hedge funds and other institutional investors own 98.25% of the company’s stock.
Shares of Albany International stock opened at $83.11 on Friday. The company has a current ratio of 3.65, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $85.05 and its two-hundred day simple moving average is $85.14. The company has a market cap of $2.65 billion, a P/E ratio of 22.77, a PEG ratio of 4.68 and a beta of 1.33. Albany International has a 12-month low of $74.17 and a 12-month high of $93.43.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Monday, March 21st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, March 18th. Albany International’s dividend payout ratio (DPR) is presently 23.01%.
Albany International Company Profile (Get Rating)
Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business. 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, and towels.
Recommended Stories
Get a free copy of the Zacks research report on Albany International (AIN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Want More Great Investing Ideas?
Receive News & Ratings for Albany International Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Albany International and related companies with MarketBeat.com’s FREE daily email newsletter.
