Westinghouse Air Brake Technologies (NYSE:WAB) Issues FY 2024 Earnings Guidance

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 7.450-7.650 for the period, compared to the consensus EPS estimate of 7.490. The company issued revenue guidance of $10.3 billion-$10.6 billion, compared to the consensus revenue estimate of $10.4 billion. Westinghouse Air Brake Technologies also updated its FY24 guidance to $7.45-7.65 EPS.

Westinghouse Air Brake Technologies Stock Down 1.5 %

Shares of WAB stock traded down $2.80 on Wednesday, hitting $186.91. The stock had a trading volume of 503,295 shares, compared to its average volume of 1,080,523. Westinghouse Air Brake Technologies has a 12-month low of $98.96 and a 12-month high of $192.48. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.38 and a quick ratio of 0.73. The stock has a market cap of $32.97 billion, a price-to-earnings ratio of 37.05, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The business has a 50 day moving average of $174.11 and a 200 day moving average of $165.22.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.08. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the company earned $1.41 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts expect that Westinghouse Air Brake Technologies will post 7.46 EPS for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Wednesday, November 13th. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 15.63%.

Analyst Upgrades and Downgrades

WAB has been the subject of a number of analyst reports. Susquehanna increased their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research note on Monday. Bank of America upped their target price on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Westinghouse Air Brake Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $166.90.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, CTO Eric Gebhardt sold 7,422 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief technology officer now directly owns 22,411 shares in the company, valued at $3,503,287.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 value 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 approximately $3,503,287.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alicia Hammersmith sold 4,169 shares of Westinghouse Air Brake Technologies stock in a transaction on Monday, August 26th. The stock was sold at an average price of $165.54, for a total value of $690,136.26. Following the completion of the sale, the insider now directly owns 5,606 shares of the company’s stock, valued at approximately $928,017.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,392 shares of company stock worth $2,754,390. 1.10% of the stock is 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.