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

Westinghouse Air Brake Technologies (NYSE:WAB) released its quarterly earnings results 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 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 analyst estimates of $2.64 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. The firm’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 Up 0.4 %

Shares of WAB traded up $0.56 during mid-day trading on Friday, hitting $159.69. 1,061,406 shares of the company’s stock were exchanged, compared to its average volume of 1,090,132. The firm has a fifty day moving average of $163.56 and a two-hundred day moving average of $150.25. Westinghouse Air Brake Technologies has a twelve month low of $98.70 and a twelve month high of $170.83. The stock has a market cap of $28.17 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 1.38 and a beta of 1.29. The company has a quick ratio of 0.77, a current ratio of 1.38 and a debt-to-equity ratio of 0.33.

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 paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is 15.63%.

Insider Transactions at Westinghouse Air Brake Technologies

In other news, insider Pascal Schweitzer sold 6,000 shares of the stock in a transaction on 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 in the company, valued at approximately $1,730,414.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Albert J. Neupaver sold 29,100 shares of the company’s stock in a transaction 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 directly owns 595,412 shares of the company’s stock, valued at approximately $96,236,441.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Pascal Schweitzer sold 6,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 10,633 shares of the company’s stock, valued at $1,730,414.42. The disclosure for this sale can be found here. Insiders have sold a total of 36,746 shares of company stock worth $5,955,249 in the last 90 days. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the company a “neutral” rating in a report on Tuesday, June 4th. Bank of America boosted their price target on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a report on Monday. Stephens boosted their price target on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. TD Cowen boosted their price target on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, April 25th. 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 note on Thursday, April 25th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Westinghouse Air Brake Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.82.

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.