Westinghouse Air Brake Technologies (NYSE:WAB) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Westinghouse Air Brake Technologies (NYSE:WAB) announced its quarterly earnings results on Wednesday. The transportation company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.86 by $0.14, Briefing.com reports. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the company earned $1.70 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Westinghouse Air Brake Technologies updated its FY 2024 guidance to 7.450-7.650 EPS and its FY24 guidance to $7.45-7.65 EPS.

Westinghouse Air Brake Technologies Trading Up 0.5 %

NYSE WAB traded up $0.90 during mid-day trading on Thursday, reaching $188.24. 245,852 shares of the stock were exchanged, compared to its average volume of 1,083,304. The business’s fifty day simple moving average is $174.74 and its 200 day simple moving average is $165.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 1.38. The stock has a market capitalization of $32.98 billion, a PE ratio of 32.81, a PEG ratio of 1.50 and a beta of 1.27. Westinghouse Air Brake Technologies has a 1-year low of $102.16 and a 1-year high of $192.48.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Wednesday, November 13th. Westinghouse Air Brake Technologies’s payout ratio is 14.04%.

Analyst Ratings Changes

WAB has been the topic of a number of research analyst reports. Stephens boosted their target price on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday. Susquehanna boosted their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday. Bank of America raised their target price on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, The Goldman Sachs Group lifted their target price on shares of Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Westinghouse Air Brake Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $171.80.

Insiders Place Their Bets

In other news, Director Brian Hehir sold 1,000 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total value of $161,620.00. Following the completion of the sale, the director now owns 23,230 shares of the company’s stock, valued at $3,754,432.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Brian Hehir sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $161.62, for a total value of $161,620.00. Following the sale, the director now directly owns 23,230 shares of the company’s stock, valued at approximately $3,754,432.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Eric Gebhardt sold 7,422 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total transaction of $1,160,207.04. Following the transaction, the chief technology officer now directly owns 22,411 shares of the company’s stock, valued at $3,503,287.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,392 shares of company stock valued at $2,754,390 in the last quarter. 1.10% of the stock is currently owned by company insiders.

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.