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

Westinghouse Air Brake Technologies (NYSE:WAB) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 7.200-7.500 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

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

Westinghouse Air Brake Technologies Trading Up 0.3 %

WAB stock traded up $0.52 during midday trading on Friday, reaching $159.65. The company’s stock had a trading volume of 179,967 shares, compared to its average volume of 1,083,968. The business’s 50-day simple moving average is $163.56 and its 200-day simple moving average is $150.25. 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 has a 52 week low of $98.70 and a 52 week high of $170.83. The stock has a market cap of $28.16 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29.

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, topping the consensus estimate of $1.88 by $0.08. The business 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 firm’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $1.41 EPS. As a group, sell-side analysts expect that Westinghouse Air Brake Technologies will post 7.36 EPS for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued 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 is currently 15.63%.

Insider Activity at Westinghouse Air Brake Technologies

In other news, Director Albert J. Neupaver sold 29,100 shares of the 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 owns 595,412 shares of the company’s stock, valued at $96,236,441.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gregory Sbrocco sold 1,646 shares of Westinghouse Air Brake Technologies stock in a transaction dated 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 owns 16,666 shares in the company, valued at $2,788,221.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Albert J. Neupaver sold 29,100 shares of the company’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 value 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. In the last three months, insiders sold 36,746 shares of company stock worth $5,955,249. 1.10% of the stock is owned by company 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.