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

Westinghouse Air Brake Technologies (NYSE:WAB) released its quarterly 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 business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period last 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. 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 Down 0.2 %

NYSE:WAB traded down $0.32 during mid-day trading on Friday, hitting $188.76. 1,147,056 shares of the company’s stock were exchanged, compared to its average volume of 1,089,174. The company has a 50 day simple moving average of $175.35 and a 200-day simple moving average of $165.54. The company has a current ratio of 1.38, a quick ratio of 0.73 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. The firm has a market capitalization of $33.07 billion, a P/E ratio of 33.15, a PEG ratio of 1.50 and a beta of 1.27.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors 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 yield of 0.42%. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 14.04%.

Insider Buying and Selling

In related news, insider Alicia Hammersmith sold 4,169 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 4,801 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 15,608 shares in the company, valued at approximately $2,413,621.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alicia Hammersmith sold 4,169 shares of the firm’s 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 of the company’s stock, valued at approximately $928,017.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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 Ratings Changes

WAB has been the topic of several recent analyst reports. Bank of America raised their target price 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, July 22nd. Stephens raised their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday. The Goldman Sachs Group raised their target price on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Susquehanna raised their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company 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. According to data from MarketBeat.com, the stock currently has an average 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.