Westinghouse Air Brake Technologies (NYSE:WAB) Updates FY24 Earnings Guidance

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $7.45-7.65 for the period, compared to the consensus earnings per share estimate of $7.49. The company issued revenue guidance of $10.25-10.55 billion, compared to the consensus revenue estimate of $10.43 billion. Westinghouse Air Brake Technologies also updated its FY 2024 guidance to 7.450-7.650 EPS.

Analysts Set New Price Targets

A number of brokerages recently commented on WAB. Stephens lifted their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday. The Goldman Sachs Group lifted their price objective on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday. Susquehanna lifted their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday. Finally, Bank of America lifted their price objective on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.80.

Westinghouse Air Brake Technologies Trading Up 0.6 %

WAB stock traded up $1.21 during midday trading on Thursday, hitting $188.55. 492,061 shares of the company’s stock were exchanged, compared to its average volume of 1,084,499. The business has a 50-day simple moving average of $174.74 and a two-hundred day simple moving average of $165.38. The company has a current ratio of 1.38, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $33.03 billion, a PE ratio of 32.81, a P/E/G ratio of 1.50 and a beta of 1.27. Westinghouse Air Brake Technologies has a 1-year low of $102.16 and a 1-year high of $192.48.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.14. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter last year, the firm earned $1.70 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Westinghouse Air Brake Technologies will post 7.47 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Westinghouse Air Brake Technologies’s payout ratio is presently 14.04%.

Insider Activity

In other news, Director Brian Hehir sold 1,000 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total value of $161,620.00. Following the completion of the sale, the director now directly owns 23,230 shares of the company’s stock, valued at approximately $3,754,432.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Eric Gebhardt sold 7,422 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total transaction of $1,160,207.04. Following the completion of the transaction, the chief technology officer now directly owns 22,411 shares of the company’s stock, valued at $3,503,287.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian Hehir sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total value of $161,620.00. Following the transaction, the director now directly owns 23,230 shares of the company’s stock, valued at $3,754,432.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,392 shares of company stock valued at $2,754,390. 1.10% of the stock is currently owned by corporate insiders.

Westinghouse Air Brake Technologies Company Profile

Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.