Westinghouse Air Brake Technologies (NYSE:WAB) Releases Earnings Results, Beats Expectations By $0.40 EPS

Westinghouse Air Brake Technologies (NYSE:WAB) issued its quarterly earnings results on Wednesday. The transportation company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40, Briefing.com reports. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The company’s revenue was up 13.9% on a year-over-year basis. Westinghouse Air Brake Technologies updated its FY24 guidance to $7.00-$7.40 EPS and its FY 2024 guidance to 7.000-7.400 EPS.

Westinghouse Air Brake Technologies Trading Down 0.1 %

NYSE WAB traded down $0.09 during trading on Friday, hitting $163.09. The stock had a trading volume of 195,572 shares, compared to its average volume of 1,049,208. The company has a market capitalization of $28.84 billion, a PE ratio of 31.87, a PEG ratio of 1.76 and a beta of 1.40. The company has a quick ratio of 0.63, a current ratio of 1.52 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average price of $143.19 and a 200 day moving average price of $127.89. Westinghouse Air Brake Technologies has a twelve month low of $91.89 and a twelve month high of $167.49.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a $0.20 dividend. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Thursday, February 22nd. Westinghouse Air Brake Technologies’s payout ratio is currently 15.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WAB shares. Wells Fargo & Company boosted their price target on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th. Susquehanna boosted their price target on Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a “positive” rating in a report on Thursday. Jefferies Financial Group raised Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $115.00 to $150.00 in a report on Thursday, January 11th. The Goldman Sachs Group upped their target price on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley began coverage on Westinghouse Air Brake Technologies in a research note on Monday, January 8th. They set an “overweight” rating and a $137.00 target price for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.18.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, CEO Rafael Santana sold 40,219 shares of Westinghouse Air Brake Technologies stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value of $5,655,595.78. Following the completion of the transaction, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at approximately $17,298,931.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Brian Hehir sold 5,470 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $135.80, for a total transaction of $742,826.00. Following the completion of the sale, the director now owns 23,065 shares in the company, valued at $3,132,227. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Rafael Santana sold 40,219 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value of $5,655,595.78. Following the sale, the chief executive officer now owns 123,019 shares of the company’s stock, valued at approximately $17,298,931.78. The disclosure for this sale can be found here. Insiders sold a total of 63,964 shares of company stock valued at $8,924,584 in the last three months. 1.10% of the stock is owned by corporate 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.