Westinghouse Air Brake Technologies Corp. (NYSE:WAB) – Stock analysts at William Blair dropped their FY2017 earnings per share (EPS) estimates for Westinghouse Air Brake Technologies Corp. in a research report issued to clients and investors on Monday. William Blair analyst N. Heymann now forecasts that the firm will earn $4.50 per share for the year, down from their prior forecast of $4.90.
Westinghouse Air Brake Technologies Corp. (NYSE:WAB) last released its quarterly earnings results on Monday, July 25th. The company reported $1.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by $0.03. The firm had revenue of $724 million for the quarter, compared to the consensus estimate of $806.48 million. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.04 EPS.
WAB has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Westinghouse Air Brake Technologies Corp. from a “hold” rating to a “sell” rating in a report on Saturday, April 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $90.00 price objective (down previously from $91.00) on shares of Westinghouse Air Brake Technologies Corp. in a report on Friday, July 15th. Finally, Wunderlich dropped their price objective on shares of Westinghouse Air Brake Technologies Corp. from $115.00 to $100.00 and set a “buy” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.00.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Shareholders of record on Monday, August 15th will be issued a dividend of $0.10 per share. This is a positive change from Westinghouse Air Brake Technologies Corp.’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, August 11th. This represents a $0.40 annualized dividend and a yield of 0.59%.
Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global rail industry. The Company primarily serves the freight rail and passenger transit industries. The Company provides its products and services through two principal business segments: the Freight Segment and the Transit Segment.
