Westinghouse Air Brake Technologies (NYSE:WAB) Releases Earnings Results, Beats Estimates By $0.08 EPS

Westinghouse Air Brake Technologies (NYSE:WAB) issued its earnings results on Wednesday. The transportation company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08, RTT News reports. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the business earned $1.41 EPS. Westinghouse Air Brake Technologies’s quarterly revenue was up 9.8% compared to the same quarter last year. Westinghouse Air Brake Technologies updated its FY 2024 guidance to 7.200-7.500 EPS and its FY24 guidance to $7.20-7.50 EPS.

Westinghouse Air Brake Technologies Stock Performance

Shares of Westinghouse Air Brake Technologies stock traded up $0.56 during trading hours on Friday, hitting $159.69. 1,061,406 shares of the company’s stock traded hands, compared to its average volume of 1,090,132. Westinghouse Air Brake Technologies has a 12-month low of $98.70 and a 12-month high of $170.83. The stock has a market capitalization of $28.17 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.38 and a beta of 1.29. The company has a fifty day simple moving average of $163.56 and a 200-day simple moving average of $150.25. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.38 and a quick ratio of 0.77.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Wednesday, August 14th. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 15.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WAB shares. Susquehanna increased their target price on Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the stock a “positive” rating in a report on Thursday, April 25th. TD Cowen increased their target price on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Stephens increased their target price on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Bank of America increased their target price on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a report on Monday. Finally, KeyCorp increased their target price on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.82.

Insider Activity

In other news, insider Pascal Schweitzer sold 6,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $162.74, for a total transaction of $976,440.00. Following the completion of the sale, the insider now directly owns 10,633 shares of the company’s stock, valued at approximately $1,730,414.42. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Albert J. Neupaver sold 29,100 shares of Westinghouse Air Brake Technologies stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $161.63, for a total value of $4,703,433.00. Following the completion of the sale, the director now owns 595,412 shares of the company’s stock, valued at approximately $96,236,441.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Pascal Schweitzer sold 6,000 shares of Westinghouse Air Brake Technologies stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $162.74, for a total value of $976,440.00. Following the completion of the sale, the insider now directly owns 10,633 shares of the company’s stock, valued at approximately $1,730,414.42. The disclosure for this sale can be found here. Insiders sold a total of 36,746 shares of company stock valued at $5,955,249 in the last ninety days. 1.10% of the stock is currently owned by insiders.

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.