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

Westinghouse Air Brake Technologies (NYSE:WAB) announced its quarterly earnings data on Wednesday. The transportation company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.08, RTT News reports. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The company’s revenue for the quarter 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 Price Performance

Shares of NYSE:WAB traded up $0.56 on Friday, reaching $159.69. 1,059,106 shares of the company traded hands, compared to its average volume of 1,090,116. The stock has a market capitalization of $28.17 billion, a PE ratio of 31.09, a P/E/G ratio of 1.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.38 and a quick ratio of 0.77. The company’s 50 day moving average is $163.56 and its 200-day moving average is $150.25. Westinghouse Air Brake Technologies has a fifty-two week low of $98.70 and a fifty-two week high of $170.83.

Westinghouse Air Brake Technologies Announces Dividend

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

Insider Buying and Selling

In other news, Director Albert J. Neupaver sold 29,100 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $161.63, for a total transaction of $4,703,433.00. Following the completion of the sale, the director now directly owns 595,412 shares of the company’s stock, valued at $96,236,441.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Albert J. Neupaver sold 29,100 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $161.63, for a total transaction of $4,703,433.00. Following the sale, the director now owns 595,412 shares in the company, valued at $96,236,441.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pascal Schweitzer sold 6,000 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 have sold 36,746 shares of company stock worth $5,955,249 in the last three months. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WAB shares. Stephens upped their target price on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. TD Cowen raised their target price on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. The Goldman Sachs Group increased their price objective on shares of Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the stock a “neutral” rating in a report on Tuesday, June 4th. Bank of America raised their price target on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a research note on Monday. Finally, KeyCorp raised their price target on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Westinghouse Air Brake Technologies has an average rating of “Moderate Buy” and a consensus price target of $160.82.

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.