Westinghouse Air Brake Technologies (NYSE:WAB) Issues Earnings Results

Westinghouse Air Brake Technologies (NYSE:WAB) posted its earnings results on Wednesday. The transportation company reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.13, Briefing.com reports. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 EPS. Westinghouse Air Brake Technologies updated its FY 2024 guidance to 7.450-7.650 EPS and its FY24 guidance to $7.45-7.65 EPS.

Westinghouse Air Brake Technologies Stock Performance

Shares of NYSE WAB opened at $189.08 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. Westinghouse Air Brake Technologies has a 12 month low of $102.16 and a 12 month high of $192.48. The company has a 50 day simple moving average of $175.35 and a two-hundred day simple moving average of $165.54. The stock has a market cap of $33.12 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 1.50 and a beta of 1.27.

Westinghouse Air Brake Technologies Announces Dividend

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

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 1,000 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $161.62, for a total transaction of $161,620.00. Following the completion of the sale, the director now directly owns 23,230 shares in the company, valued at approximately $3,754,432.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Brian Hehir sold 1,000 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $161.62, for a total transaction of $161,620.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicole B. Theophilus sold 4,801 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $154.64, for a total transaction of $742,426.64. Following the transaction, the executive vice president now directly owns 15,608 shares of the company’s stock, valued at approximately $2,413,621.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,392 shares of company stock worth $2,754,390. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Westinghouse Air Brake Technologies

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.