Westinghouse Air Brake Technologies Corp (WAB) Expected to Announce Quarterly Sales of $998.68 Million
Equities analysts expect Westinghouse Air Brake Technologies Corp (NYSE:WAB) to announce $998.68 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Westinghouse Air Brake Technologies’ earnings, with estimates ranging from $976.20 million to $1.02 billion. Westinghouse Air Brake Technologies posted sales of $957.93 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.3%. The firm is expected to report its next quarterly earnings results on Tuesday, October 23rd.
On average, analysts expect that Westinghouse Air Brake Technologies will report full year sales of $4.25 billion for the current fiscal year, with estimates ranging from $4.23 billion to $4.28 billion. For the next year, analysts anticipate that the firm will report sales of $4.47 billion per share, with estimates ranging from $4.38 billion to $4.53 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Westinghouse Air Brake Technologies.
Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Tuesday, July 24th. The transportation company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Westinghouse Air Brake Technologies had a net margin of 6.88% and a return on equity of 12.40%. Westinghouse Air Brake Technologies’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share.
In other news, Director William E. Kassling sold 8,000 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $109.27, for a total transaction of $874,160.00. Following the transaction, the director now directly owns 81,444 shares in the company, valued at $8,899,385.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Patrick D. Dugan sold 21,280 shares of the business’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $109.54, for a total transaction of $2,331,011.20. Following the transaction, the chief financial officer now owns 76,555 shares in the company, valued at $8,385,834.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 207,208 shares of company stock worth $22,743,371. Company insiders own 11.49% of the company’s stock.
Several institutional investors have recently modified their holdings of WAB. Synovus Financial Corp acquired a new position in shares of Westinghouse Air Brake Technologies during the first quarter worth about $102,000. Teza Capital Management LLC acquired a new position in shares of Westinghouse Air Brake Technologies during the first quarter worth about $333,000. Toronto Dominion Bank grew its position in Westinghouse Air Brake Technologies by 16.2% during the first quarter. Toronto Dominion Bank now owns 5,914 shares of the transportation company’s stock worth $481,000 after buying an additional 823 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Westinghouse Air Brake Technologies by 15.1% during the first quarter. Nomura Asset Management Co. Ltd. now owns 11,650 shares of the transportation company’s stock worth $948,000 after buying an additional 1,530 shares during the period. Finally, Covington Investment Advisors Inc. acquired a new position in Westinghouse Air Brake Technologies during the first quarter worth about $1,083,000.
NYSE WAB traded down $0.02 during trading on Friday, reaching $105.36. The company’s stock had a trading volume of 60,281 shares, compared to its average volume of 829,531. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.99 and a current ratio of 1.52. The firm has a market cap of $9.46 billion, a PE ratio of 30.68, a P/E/G ratio of 1.68 and a beta of 0.94. Westinghouse Air Brake Technologies has a twelve month low of $69.75 and a twelve month high of $115.40.
The company also recently declared a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Friday, August 10th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.46%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is 13.99%.
About Westinghouse Air Brake Technologies
Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.
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