William Blair Equities Analysts Reduce Earnings Estimates for Westinghouse Air Brake Technologies Corp (WAB)

Westinghouse Air Brake Technologies Corp (NYSE:WAB) – Analysts at William Blair decreased their FY2018 earnings per share estimates for Westinghouse Air Brake Technologies in a report issued on Wednesday, October 31st. William Blair analyst N. Heymann now forecasts that the transportation company will earn $3.85 per share for the year, down from their previous forecast of $3.90. William Blair currently has a “Buy” rating on the stock. William Blair also issued estimates for Westinghouse Air Brake Technologies’ Q4 2018 earnings at $1.00 EPS, Q1 2019 earnings at $0.98 EPS, Q2 2019 earnings at $1.16 EPS and Q3 2019 earnings at $1.17 EPS.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings data on Tuesday, October 30th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.95. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1 billion. Westinghouse Air Brake Technologies had a return on equity of 12.43% and a net margin of 7.16%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business posted $0.88 earnings per share.

A number of other research firms have also recently issued reports on WAB. Wolfe Research cut Westinghouse Air Brake Technologies from an “outperform” rating to a “peer perform” rating in a research note on Friday, October 5th. KeyCorp reiterated an “overweight” rating and issued a $113.00 target price (up from $105.00) on shares of Westinghouse Air Brake Technologies in a research note on Wednesday, July 25th. Wellington Shields upgraded Westinghouse Air Brake Technologies from a “hold” rating to a “gradually accumulate” rating in a research note on Monday, October 15th. Zacks Investment Research upgraded Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Tuesday, September 25th. Finally, Stifel Nicolaus set a $110.00 target price on Westinghouse Air Brake Technologies and gave the company a “buy” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $106.73.

WAB stock opened at $85.15 on Friday. The company has a current ratio of 2.84, a quick ratio of 0.99 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 1.92 and a beta of 1.17. Westinghouse Air Brake Technologies has a 1 year low of $69.75 and a 1 year high of $115.40.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Thursday, November 15th. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 13.99%.

In related news, VP David L. Deninno sold 6,000 shares of Westinghouse Air Brake Technologies stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $113.44, for a total transaction of $680,640.00. Following the sale, the vice president now directly owns 59,888 shares in the company, valued at $6,793,694.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert J. Brooks sold 20,000 shares of Westinghouse Air Brake Technologies stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $110.56, for a total transaction of $2,211,200.00. Following the sale, the director now owns 19,200 shares in the company, valued at $2,122,752. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $5,562,320. Company insiders own 11.49% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sterling Capital Management LLC raised its stake in shares of Westinghouse Air Brake Technologies by 18.8% during the second quarter. Sterling Capital Management LLC now owns 47,706 shares of the transportation company’s stock valued at $4,703,000 after purchasing an additional 7,553 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of Westinghouse Air Brake Technologies during the third quarter valued at about $150,000. Principal Financial Group Inc. raised its stake in shares of Westinghouse Air Brake Technologies by 2.6% during the first quarter. Principal Financial Group Inc. now owns 366,391 shares of the transportation company’s stock valued at $29,824,000 after purchasing an additional 9,375 shares in the last quarter. MetLife Investment Advisors LLC raised its stake in shares of Westinghouse Air Brake Technologies by 0.9% during the second quarter. MetLife Investment Advisors LLC now owns 53,862 shares of the transportation company’s stock valued at $5,310,000 after purchasing an additional 492 shares in the last quarter. Finally, Windward Capital Management Co. CA raised its stake in shares of Westinghouse Air Brake Technologies by 57.8% during the third quarter. Windward Capital Management Co. CA now owns 4,167 shares of the transportation company’s stock valued at $437,000 after purchasing an additional 1,526 shares in the last quarter.

About Westinghouse Air Brake Technologies

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.

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Earnings History and Estimates for Westinghouse Air Brake Technologies (NYSE:WAB)

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