Westinghouse Air Brake Technologies (NYSE:WAB) Issues FY24 Earnings Guidance

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $7.45-7.65 for the period, compared to the consensus EPS estimate of $7.49. The company issued revenue guidance of $10.25-10.55 billion, compared to the consensus revenue estimate of $10.43 billion. Westinghouse Air Brake Technologies also updated its FY 2024 guidance to 7.450-7.650 EPS.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WAB. Bank of America lifted their price target on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Stephens lifted their price target on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Susquehanna lifted their price target on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Westinghouse Air Brake Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.80.

Westinghouse Air Brake Technologies Stock Up 0.2 %

WAB traded up $0.46 during midday trading on Friday, reaching $189.54. 288,546 shares of the company were exchanged, compared to its average volume of 1,085,026. 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’s fifty day moving average price is $175.35 and its 200 day moving average price is $165.54. The company has a market cap of $33.20 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. Westinghouse Air Brake Technologies has a one year low of $102.67 and a one year high of $192.48.

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

Westinghouse Air Brake Technologies Announces Dividend

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

Insider Activity

In other news, insider Alicia Hammersmith sold 4,169 shares of the company’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 value of $690,136.26. Following the completion of the transaction, the insider now directly owns 5,606 shares of the company’s stock, valued at $928,017.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Westinghouse Air Brake Technologies news, insider Alicia Hammersmith sold 4,169 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 5,606 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Hehir sold 1,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $161.62, for a total value of $161,620.00. Following the transaction, the director now directly owns 23,230 shares of the company’s stock, valued at approximately $3,754,432.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,392 shares of company stock valued at $2,754,390 over the last three months. Corporate insiders own 1.10% of the company’s stock.

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.