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

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $7.20-7.50 for the period, compared to the consensus EPS estimate of $7.39. The company issued revenue guidance of $10.25-10.55 billion, compared to the consensus revenue estimate of $10.38 billion. Westinghouse Air Brake Technologies also updated its FY 2024 guidance to 7.200-7.500 EPS.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WAB. Stephens increased their price target on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an overweight rating in a report on Thursday, April 25th. KeyCorp increased their price target on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an overweight rating in a report on Thursday, April 25th. TD Cowen upped 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. The Goldman Sachs Group upped their price objective on shares of Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the company a neutral rating in a research report on Tuesday, June 4th. Finally, Susquehanna upped their price objective on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a positive rating in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $160.82.

Westinghouse Air Brake Technologies Stock Performance

Shares of WAB stock opened at $159.69 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.77 and a current ratio of 1.38. Westinghouse Air Brake Technologies has a one year low of $98.70 and a one year high of $170.83. The company’s 50-day simple moving average is $163.39 and its 200-day simple moving average is $150.49. The stock has a market capitalization of $27.97 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 1.34 and a beta of 1.29.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.88 by $0.08. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the company posted $1.41 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Westinghouse Air Brake Technologies will post 7.36 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Dividend Announcement

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

Insiders Place Their Bets

In other Westinghouse Air Brake Technologies news, Director Albert J. Neupaver sold 29,100 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $161.63, for a total value of $4,703,433.00. Following the transaction, the director now owns 595,412 shares of the company’s stock, valued at $96,236,441.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Westinghouse Air Brake Technologies news, EVP Gregory Sbrocco sold 1,646 shares of the firm’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 sale, the executive vice president now owns 16,666 shares in the company, valued at $2,788,221.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Albert J. Neupaver sold 29,100 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $161.63, for a total transaction of $4,703,433.00. Following the completion of the sale, the director now owns 595,412 shares in the company, valued at approximately $96,236,441.56. The disclosure for this sale can be found here. Insiders have sold 36,746 shares of company stock valued at $5,955,249 over the last quarter. Insiders own 1.10% of the company’s stock.

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.