Westinghouse Air Brake Technologies (NYSE:WAB) Updates 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 also updated its FY24 guidance to $7.45-7.65 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday. Stephens boosted their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America raised their price objective 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, Susquehanna boosted 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $171.80.

Westinghouse Air Brake Technologies Stock Up 0.6 %

Shares of NYSE:WAB traded up $1.08 during midday trading on Friday, reaching $190.16. 83,300 shares of the company were exchanged, compared to its average volume of 1,084,035. The stock has a fifty day simple moving average of $175.35 and a two-hundred day simple moving average of $165.54. The firm has a market cap of $33.31 billion, a PE ratio of 33.17, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a quick ratio of 0.73, a current ratio of 1.38 and a debt-to-equity ratio of 0.33. Westinghouse Air Brake Technologies has a fifty-two week low of $102.67 and a fifty-two week high of $192.48.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.13. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the firm earned $1.70 earnings per share. Westinghouse Air Brake Technologies’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Westinghouse Air Brake Technologies will post 7.47 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.20 per share. The ex-dividend date 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 Buying and Selling at Westinghouse Air Brake Technologies

In related news, insider Alicia Hammersmith sold 4,169 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $165.54, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Westinghouse Air Brake Technologies news, insider Alicia Hammersmith sold 4,169 shares of the 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 sale, the insider now directly owns 5,606 shares in the company, valued at $928,017.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Hehir sold 1,000 shares of the business’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 transaction of $161,620.00. Following the completion of the transaction, the director now owns 23,230 shares of the company’s stock, valued at $3,754,432.60. 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 quarter. 1.10% of the stock is currently owned by 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.