Westinghouse Air Brake Technologies Co. Expected to Earn Q2 2024 Earnings of $1.83 Per Share (NYSE:WAB)

Westinghouse Air Brake Technologies Co. (NYSE:WAB) – Equities research analysts at Zacks Research issued their Q2 2024 earnings per share (EPS) estimates for Westinghouse Air Brake Technologies in a research note issued on Monday, July 22nd. Zacks Research analyst M. Basu forecasts that the transportation company will post earnings of $1.83 per share for the quarter. The consensus estimate for Westinghouse Air Brake Technologies’ current full-year earnings is $7.36 per share. Zacks Research also issued estimates for Westinghouse Air Brake Technologies’ FY2024 earnings at $7.32 EPS and Q4 2025 earnings at $2.27 EPS.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.08. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share.

Several other analysts also recently issued reports on the company. TD Cowen lifted their price target on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Stephens lifted their price target on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Bank of America lifted their price target on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. KeyCorp lifted their price target on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group lifted their price target on Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the company a “neutral” rating in a research note on Tuesday, June 4th. Three equities research 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, Westinghouse Air Brake Technologies presently has an average rating of “Moderate Buy” and an average price target of $160.82.

Westinghouse Air Brake Technologies Stock Performance

WAB stock opened at $159.69 on Thursday. The business’s 50-day moving average price is $163.39 and its two-hundred day moving average price is $150.49. The company has a current ratio of 1.38, a quick ratio of 0.77 and a debt-to-equity ratio of 0.33. The firm has a market cap of $28.17 billion, a PE ratio of 31.19, a P/E/G ratio of 1.38 and a beta of 1.29. Westinghouse Air Brake Technologies has a 1-year low of $98.70 and a 1-year high of $170.83.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in Westinghouse Air Brake Technologies by 107.8% during the first quarter. BNP Paribas Financial Markets now owns 170,248 shares of the transportation company’s stock valued at $24,802,000 after purchasing an additional 88,325 shares in the last quarter. Applied Finance Capital Management LLC raised its position in Westinghouse Air Brake Technologies by 9.8% during the fourth quarter. Applied Finance Capital Management LLC now owns 159,384 shares of the transportation company’s stock valued at $20,226,000 after purchasing an additional 14,285 shares in the last quarter. Forsta AP Fonden raised its position in Westinghouse Air Brake Technologies by 64.5% during the first quarter. Forsta AP Fonden now owns 53,300 shares of the transportation company’s stock valued at $7,765,000 after purchasing an additional 20,900 shares in the last quarter. DNB Asset Management AS raised its position in Westinghouse Air Brake Technologies by 3.9% during the second quarter. DNB Asset Management AS now owns 46,343 shares of the transportation company’s stock valued at $7,325,000 after purchasing an additional 1,729 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Westinghouse Air Brake Technologies by 12.3% during the second quarter. Nisa Investment Advisors LLC now owns 22,357 shares of the transportation company’s stock valued at $3,534,000 after purchasing an additional 2,457 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Pascal Schweitzer sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $162.74, for a total transaction of $976,440.00. Following the completion of the sale, the insider now owns 10,633 shares in the company, valued at $1,730,414.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Pascal Schweitzer sold 6,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 10,633 shares in the company, valued at $1,730,414.42. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gregory Sbrocco sold 1,646 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $167.30, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 36,746 shares of company stock valued at $5,955,249 over the last 90 days. 1.10% of the stock is currently owned by insiders.

Westinghouse Air Brake Technologies Announces Dividend

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

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.