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

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $7.00-$7.40 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Westinghouse Air Brake Technologies in a research note on Monday, January 8th. They set an overweight rating and a $137.00 price target on the stock. Jefferies Financial Group raised Westinghouse Air Brake Technologies from a hold rating to a buy rating and boosted their target price for the stock from $115.00 to $150.00 in a report on Thursday, January 11th. Susquehanna lifted their price objective on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a positive rating in a research note on Thursday. TD Cowen raised their price objective on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a hold rating in a report on Thursday. Finally, Bank of America boosted 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $156.18.

Westinghouse Air Brake Technologies Trading Up 0.4 %

Westinghouse Air Brake Technologies stock traded up $0.59 during midday trading on Friday, hitting $163.77. 494,353 shares of the stock were exchanged, compared to its average volume of 1,053,449. The company has a current ratio of 1.52, a quick ratio of 0.63 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $28.96 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 1.76 and a beta of 1.40. The stock’s 50-day simple moving average is $143.19 and its 200 day simple moving average is $127.89. Westinghouse Air Brake Technologies has a fifty-two week low of $91.89 and a fifty-two week high of $167.49.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the firm posted $1.28 EPS. The company’s revenue was up 13.9% on a year-over-year basis. On average, equities analysts anticipate that Westinghouse Air Brake Technologies will post 7.2 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. Investors of record on Friday, February 23rd were issued a dividend of $0.20 per share. The ex-dividend date of this dividend 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 dividend on an annualized basis and a dividend yield of 0.49%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 15.63%.

Insider Activity

In other news, Director Brian Hehir sold 5,470 shares of Westinghouse Air Brake Technologies stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $135.80, for a total value of $742,826.00. Following the transaction, the director now owns 23,065 shares in the company, valued at $3,132,227. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Brian Hehir sold 5,470 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $135.80, for a total transaction of $742,826.00. Following the completion of the sale, the director now owns 23,065 shares of the company’s stock, valued at approximately $3,132,227. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicole B. Theophilus sold 2,668 shares of the 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 transaction, the executive vice president now owns 24,792 shares of the company’s stock, valued at $3,482,284.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,964 shares of company stock valued at $8,924,584. Company 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.