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

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $7.00-$7.40 for the period, compared to the consensus earnings per share estimate of $6.79. The company issued revenue guidance of $10.25-$10.55 billion, compared to the consensus revenue estimate of $10.20 billion. Westinghouse Air Brake Technologies also updated its FY 2024 guidance to 7.000-7.400 EPS.

Analysts Set New Price Targets

A number of brokerages have commented on WAB. Stephens upped their price target on shares of Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the company an overweight rating in a research report on Thursday, February 15th. Morgan Stanley began coverage on shares of Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They set an overweight rating and a $137.00 price target on the stock. KeyCorp upped their price target on shares of Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the company an overweight rating in a research report on Thursday, February 15th. Jefferies Financial Group upgraded shares of Westinghouse Air Brake Technologies from a hold rating to a buy rating and upped their price objective for the company from $115.00 to $150.00 in a report on Thursday, January 11th. Finally, The Goldman Sachs Group upped their price objective on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $146.91.

Westinghouse Air Brake Technologies Stock Up 10.0 %

Shares of WAB traded up $14.90 on Wednesday, reaching $163.38. The company’s stock had a trading volume of 3,725,337 shares, compared to its average volume of 1,049,914. The company has a current ratio of 1.20, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. Westinghouse Air Brake Technologies has a twelve month low of $91.89 and a twelve month high of $167.49. The stock has a market capitalization of $28.89 billion, a PE ratio of 36.15, a PEG ratio of 1.68 and a beta of 1.40. The firm has a fifty day moving average of $142.63 and a 200-day moving average of $127.64.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.48 billion. Westinghouse Air Brake Technologies had a return on equity of 10.34% and a net margin of 8.42%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. Equities analysts predict that Westinghouse Air Brake Technologies will post 6.73 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.20 dividend. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 22nd. This represents a $0.80 annualized dividend and a yield of 0.49%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is 17.70%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, CEO Rafael Santana sold 40,219 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $140.62, for a total value of $5,655,595.78. Following the completion of the sale, the chief executive officer now owns 123,019 shares in the company, valued at approximately $17,298,931.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, VP David L. Deninno sold 6,607 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $135.61, for a total transaction of $895,975.27. Following the completion of the transaction, the vice president now directly owns 65,535 shares of the company’s stock, valued at approximately $8,887,201.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rafael Santana sold 40,219 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the transaction, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,964 shares of company stock worth $8,924,584. 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.