Westinghouse Air Brake Technologies (NYSE:WAB) Announces Earnings Results, Beats Estimates By $0.08 EPS

Westinghouse Air Brake Technologies (NYSE:WAB) posted its quarterly earnings data on Wednesday. The transportation company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.08, RTT News reports. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the business earned $1.41 EPS. Westinghouse Air Brake Technologies’s revenue was up 9.8% compared to the same quarter last year. Westinghouse Air Brake Technologies updated its FY 2024 guidance to 7.200-7.500 EPS and its FY24 guidance to $7.20-7.50 EPS.

Westinghouse Air Brake Technologies Stock Down 6.4 %

Westinghouse Air Brake Technologies stock opened at $157.30 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.52. The business’s 50-day simple moving average is $163.71 and its two-hundred day simple moving average is $150.19. The company has a market cap of $27.74 billion, a PE ratio of 30.72, a PEG ratio of 1.48 and a beta of 1.29. Westinghouse Air Brake Technologies has a fifty-two week low of $98.70 and a fifty-two week high of $170.83.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.80 annualized dividend and a yield of 0.51%. Westinghouse Air Brake Technologies’s payout ratio is presently 15.63%.

Wall Street Analysts Forecast Growth

WAB has been the subject of several research reports. Bank of America upped their target price on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a report on Monday. Susquehanna upped their target price on Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the stock a “positive” rating in a report on Thursday, April 25th. TD Cowen upped their target price on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. KeyCorp upped their target price on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, Stephens boosted their price target on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.82.

Insider Transactions at Westinghouse Air Brake Technologies

In other news, insider Pascal Schweitzer sold 6,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $162.74, for a total value of $976,440.00. Following the sale, the insider now owns 10,633 shares in the company, valued at $1,730,414.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Westinghouse Air Brake Technologies news, EVP Gregory Sbrocco sold 1,646 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $167.30, for a total transaction of $275,375.80. Following the completion of the sale, the executive vice president now owns 16,666 shares of the company’s stock, valued at $2,788,221.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Pascal Schweitzer sold 6,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $162.74, for a total value of $976,440.00. Following the sale, the insider now directly owns 10,633 shares of the company’s stock, valued at approximately $1,730,414.42. The disclosure for this sale can be found here. Insiders have sold 36,746 shares of company stock worth $5,955,249 over the last quarter. 1.10% of the stock is currently owned by 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.