Albany International (AIN) Projected to Post Earnings on Wednesday

Albany International (NYSE:AIN) is projected to post its quarterly earnings results after the market closes on Wednesday, February 26th. Analysts expect Albany International to post earnings of $0.63 per share and revenue of $300.22 million for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Albany International Trading Up 1.5 %

Shares of Albany International stock opened at $82.15 on Wednesday. The business has a fifty day simple moving average of $80.67 and a two-hundred day simple moving average of $81.90. Albany International has a 1 year low of $67.39 and a 1 year high of $98.73. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 25.67 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 2.94.

Albany International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.31%. This is an increase from Albany International’s previous quarterly dividend of $0.26. Albany International’s dividend payout ratio (DPR) is currently 33.75%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Albany International from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their target price on Albany International from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Bank of America dropped their target price on Albany International from $90.00 to $80.00 and set an “underperform” rating for the company in a report on Friday, November 15th. TD Cowen raised Albany International to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Truist Financial lifted their target price on Albany International from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.75.

Albany International Company Profile

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.