Westinghouse Air Brake Technologies (NYSE:WAB) Issues FY 2024 Earnings Guidance

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 7.000-7.400 for the period, compared to the consensus earnings per share estimate of 6.790. The company issued revenue guidance of $10.3 billion-$10.6 billion, compared to the consensus revenue estimate of $10.2 billion. Westinghouse Air Brake Technologies also updated its FY24 guidance to $7.00-$7.40 EPS.

Westinghouse Air Brake Technologies Price Performance

Shares of NYSE:WAB opened at $158.00 on Wednesday. The stock’s 50 day moving average is $142.63 and its 200-day moving average is $127.64. Westinghouse Air Brake Technologies has a twelve month low of $91.89 and a twelve month high of $158.00. The company has a quick ratio of 0.63, a current ratio of 1.20 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $27.94 billion, a price-to-earnings ratio of 32.85, a PEG ratio of 1.68 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data 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). Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period last year, the business posted $1.30 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Sell-side analysts forecast that Westinghouse Air Brake Technologies will post 6.73 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a $0.20 dividend. The ex-dividend date was Thursday, February 22nd. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Westinghouse Air Brake Technologies’s dividend payout ratio is 17.70%.

Wall Street Analysts Forecast Growth

WAB has been the subject of a number of analyst reports. Jefferies Financial Group raised Westinghouse Air Brake Technologies from a hold rating to a buy rating and increased their price target for the company from $115.00 to $150.00 in a research report on Thursday, January 11th. Stephens raised 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. Susquehanna upped their price objective on shares of Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the stock a positive rating in a research report on Thursday, February 15th. Morgan Stanley initiated coverage on Westinghouse Air Brake Technologies in a report on Monday, January 8th. They issued an overweight rating and a $137.00 target price for the company. Finally, TD Cowen lifted their price target on Westinghouse Air Brake Technologies from $125.00 to $130.00 and gave the stock a market perform rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Westinghouse Air Brake Technologies currently has a consensus rating of Moderate Buy and an average target price of $146.91.

Insider Transactions at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 2,668 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $140.46, for a total transaction of $374,747.28. Following the sale, the executive vice president now directly owns 24,792 shares of the company’s stock, valued at $3,482,284.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Nicole B. Theophilus sold 2,668 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $140.46, for a total value of $374,747.28. Following the completion of the transaction, the executive vice president now directly owns 24,792 shares in the company, valued at approximately $3,482,284.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicole B. Theophilus sold 3,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $137.26, for a total transaction of $411,780.00. Following the sale, the executive vice president now directly owns 22,354 shares in the company, valued at approximately $3,068,310.04. 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. 1.10% of the stock is owned by company insiders.

About Westinghouse Air Brake Technologies

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.