Westinghouse Air Brake Technologies (NYSE:WAB) Announces Earnings Results

Westinghouse Air Brake Technologies (NYSE:WAB) issued its quarterly earnings results on Wednesday. The transportation company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.68 billion. During the same period in the prior year, the firm posted $1.70 earnings per share. The business’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 Stock Performance

WAB traded down $0.89 during trading on Thursday, hitting $186.45. The stock had a trading volume of 43,929 shares, compared to its average volume of 1,082,235. The firm has a market cap of $32.66 billion, a PE ratio of 32.87, a P/E/G ratio of 1.50 and a beta of 1.27. Westinghouse Air Brake Technologies has a 12 month low of $102.16 and a 12 month high of $192.48. The company has a current ratio of 1.38, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The company has a 50 day simple moving average of $174.74 and a 200-day simple moving average of $165.38.

Westinghouse Air Brake Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.80 annualized dividend and a yield of 0.43%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 14.04%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Susquehanna raised their price target on shares of 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 lifted 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, Stephens raised their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Westinghouse Air Brake Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $169.40.

Insider Transactions at Westinghouse Air Brake Technologies

In other news, insider Alicia Hammersmith sold 4,169 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $165.54, for a total transaction of $690,136.26. Following the transaction, the insider now owns 5,606 shares in the company, valued at approximately $928,017.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Alicia Hammersmith sold 4,169 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $165.54, for a total value of $690,136.26. Following the sale, the insider now owns 5,606 shares of the company’s stock, valued at $928,017.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian Hehir sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $161.62, for a total transaction of $161,620.00. Following the completion of the sale, the director now directly owns 23,230 shares in the company, valued at approximately $3,754,432.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,392 shares of company stock worth $2,754,390. 1.10% of the stock is currently owned by company 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.