Westinghouse Air Brake Technologies (NYSE:WAB) Issues FY 2024 Earnings Guidance

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 7.200-7.500 for the period, compared to the consensus EPS estimate of 7.390. The company issued revenue guidance of $10.3 billion-$10.6 billion, compared to the consensus revenue estimate of $10.4 billion. Westinghouse Air Brake Technologies also updated its FY24 guidance to $7.20-7.50 EPS.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the stock a neutral rating in a research report on Tuesday, June 4th. Susquehanna lifted their target price on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the stock a positive rating in a research report on Thursday, April 25th. Stephens boosted their price objective on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an overweight rating in a research report on Thursday, April 25th. TD Cowen boosted their price objective on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a hold rating in a research report on Thursday, April 25th. Finally, Bank of America boosted their price objective 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $160.82.

Westinghouse Air Brake Technologies Stock Up 2.7 %

Shares of WAB stock traded up $4.23 on Thursday, hitting $161.51. The stock had a trading volume of 533,613 shares, compared to its average volume of 1,084,059. The firm has a market capitalization of $28.49 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 1.48 and a beta of 1.29. The stock’s 50 day moving average is $163.71 and its 200-day moving average is $150.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.52. Westinghouse Air Brake Technologies has a 52-week low of $98.70 and a 52-week high of $170.83.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.08. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. As a group, research analysts expect that Westinghouse Air Brake Technologies will post 7.34 earnings per share for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be given a $0.20 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. Westinghouse Air Brake Technologies’s payout ratio is currently 15.63%.

Insider Transactions at Westinghouse Air Brake Technologies

In related news, EVP Gregory Sbrocco sold 1,646 shares of Westinghouse Air Brake Technologies stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $167.30, for a total value of $275,375.80. Following the sale, the executive vice president now directly owns 16,666 shares in the company, valued at approximately $2,788,221.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Westinghouse Air Brake Technologies news, insider Pascal Schweitzer sold 6,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $162.74, for a total transaction of $976,440.00. Following the transaction, the insider now owns 10,633 shares of the company’s stock, valued at approximately $1,730,414.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregory Sbrocco sold 1,646 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 16,666 shares in the company, valued at approximately $2,788,221.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,746 shares of company stock worth $5,955,249. 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.