Westinghouse Air Brake Technologies (NYSE:WAB) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Westinghouse Air Brake Technologies (NYSE:WAB) released its earnings results on Wednesday. The transportation company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.13, Briefing.com reports. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the business earned $1.70 EPS. Westinghouse Air Brake Technologies’s revenue for the quarter was up 4.4% on a year-over-year basis. Westinghouse Air Brake Technologies updated its FY 2024 guidance to 7.450-7.650 EPS and its FY24 guidance to $7.45-7.65 EPS.

Westinghouse Air Brake Technologies Trading Up 0.9 %

Shares of Westinghouse Air Brake Technologies stock opened at $189.08 on Friday. Westinghouse Air Brake Technologies has a fifty-two week low of $102.16 and a fifty-two week high of $192.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 1.38. The company has a market cap of $33.12 billion, a P/E ratio of 33.17, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. The firm has a 50-day simple moving average of $175.35 and a two-hundred day simple moving average of $165.54.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Westinghouse Air Brake Technologies’s payout ratio is 14.04%.

Insider Activity

In other Westinghouse Air Brake Technologies news, insider Alicia Hammersmith sold 4,169 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $165.54, for a total transaction of $690,136.26. Following the transaction, the insider now owns 5,606 shares in the company, valued at approximately $928,017.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Alicia Hammersmith sold 4,169 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $165.54, for a total transaction of $690,136.26. Following the completion of the sale, the insider now owns 5,606 shares of the company’s stock, valued at $928,017.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Eric Gebhardt sold 7,422 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $156.32, for a total transaction of $1,160,207.04. Following the completion of the transaction, the chief technology officer now directly owns 22,411 shares in the company, valued at $3,503,287.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,392 shares of company stock worth $2,754,390 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WAB shares. The Goldman Sachs Group raised their target price on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday. Susquehanna lifted their target price on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a report on Monday. Bank of America increased 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. Finally, Stephens lifted their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $171.80.

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.