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 earnings per share (EPS) guidance of 7.200-7.500 for the period, compared to the consensus estimate of 7.390. 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 $7.20-7.50 EPS.

Analyst Upgrades and Downgrades

WAB has been the topic of a number of recent research reports. Bank of America upped their price objective on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a buy rating in a research report on Monday. Susquehanna increased their target price on Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a positive rating in a research report on Thursday, April 25th. Stephens raised their price objective on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an overweight rating in a research report on Thursday, April 25th. The Goldman Sachs Group lifted their price objective on Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the company a neutral rating in a research note on Tuesday, June 4th. Finally, KeyCorp lifted their price objective on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the stock an overweight rating in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Westinghouse Air Brake Technologies currently has a consensus rating of Moderate Buy and a consensus price target of $160.82.

Westinghouse Air Brake Technologies Trading Up 2.7 %

Shares of WAB traded up $4.23 during mid-day trading on Thursday, reaching $161.51. The company had a trading volume of 533,613 shares, compared to its average volume of 1,084,059. The firm has a fifty day simple moving average of $163.71 and a 200-day simple moving average of $150.19. Westinghouse Air Brake Technologies has a fifty-two week low of $98.70 and a fifty-two week high of $170.83. The company has a current ratio of 1.52, a quick ratio of 0.77 and a debt-to-equity ratio of 0.38. The stock has a market cap of $28.49 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 1.48 and a beta of 1.29.

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, beating analysts’ consensus estimates of $1.88 by $0.08. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the firm posted $1.41 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Westinghouse Air Brake Technologies will post 7.34 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Dividend Announcement

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

Insider Transactions at Westinghouse Air Brake Technologies

In other news, EVP Gregory Sbrocco sold 1,646 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $167.30, for a total value of $275,375.80. Following the completion of the sale, the executive vice president now owns 16,666 shares of the company’s stock, valued at approximately $2,788,221.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Gregory Sbrocco sold 1,646 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $167.30, for a total transaction of $275,375.80. Following the completion of the transaction, the executive vice president now directly owns 16,666 shares of the company’s stock, valued at $2,788,221.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pascal Schweitzer sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $162.74, for a total value of $976,440.00. Following the transaction, the insider now directly owns 10,633 shares of the company’s stock, valued at $1,730,414.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,746 shares of company stock valued at $5,955,249. Insiders own 1.10% of the company’s stock.

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.