Westinghouse Air Brake Technologies (NYSE:WAB – Get Free Report) posted its earnings results on Wednesday. The transportation company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40, Briefing.com reports. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the firm earned $1.28 EPS. Westinghouse Air Brake Technologies’s quarterly revenue was up 13.9% on a year-over-year basis. Westinghouse Air Brake Technologies updated its FY24 guidance to $7.00-$7.40 EPS and its FY 2024 guidance to 7.000-7.400 EPS.
Westinghouse Air Brake Technologies Stock Performance
Shares of WAB opened at $163.18 on Friday. The company’s fifty day moving average is $143.19 and its 200-day moving average is $127.89. Westinghouse Air Brake Technologies has a 12 month low of $91.89 and a 12 month high of $167.49. The firm has a market cap of $28.85 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.40. The company has a quick ratio of 0.63, a current ratio of 1.52 and a debt-to-equity ratio of 0.38.
Westinghouse Air Brake Technologies Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.20 per share. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Westinghouse Air Brake Technologies’s dividend payout ratio is 15.63%.
Insider Transactions at Westinghouse Air Brake Technologies
Analysts Set New Price Targets
Several research firms have commented on WAB. The Goldman Sachs Group upped their target price on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Bank of America increased their price objective on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a “buy” rating in a report on Monday, April 15th. KeyCorp increased their target price on shares of Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. TD Cowen increased their target price on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Stephens increased their target price on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Westinghouse Air Brake Technologies has an average rating of “Moderate Buy” and a consensus price target of $156.18.
Get Our Latest Analysis on Westinghouse Air Brake Technologies
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.
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