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 7.450-7.650 for the period, compared to the consensus EPS estimate of 7.490. 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 Stock Performance

NYSE:WAB opened at $189.71 on Wednesday. The company has a fifty day moving average of $174.11 and a two-hundred day moving average of $165.22. Westinghouse Air Brake Technologies has a fifty-two week low of $98.70 and a fifty-two week high of $192.48. The stock has a market capitalization of $33.46 billion, a PE ratio of 37.05, a P/E/G ratio of 1.59 and a beta of 1.27. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 1.38.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 earnings per share. As a group, research analysts forecast that Westinghouse Air Brake Technologies will post 7.46 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Westinghouse Air Brake Technologies’s payout ratio is 15.63%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Susquehanna raised their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday. Bank of America raised their price target on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Westinghouse Air Brake Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $166.90.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, Director Brian Hehir sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total transaction of $161,620.00. Following the sale, the director now owns 23,230 shares of the company’s stock, valued at approximately $3,754,432.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Brian Hehir sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $161.62, for a total value of $161,620.00. Following the sale, the director now owns 23,230 shares of the company’s stock, valued at $3,754,432.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicole B. Theophilus sold 4,801 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 15,608 shares in the company, valued at $2,413,621.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,392 shares of company stock valued at $2,754,390 in the last 90 days. Company insiders own 1.10% of the company’s stock.

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.