Zacks: Brokerages Expect Westinghouse Air Brake Technologies Corp (NYSE:WAB) Will Post Quarterly Sales of $2.15 Billion
Brokerages expect that Westinghouse Air Brake Technologies Corp (NYSE:WAB) will post $2.15 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Westinghouse Air Brake Technologies’ earnings. The highest sales estimate is $2.20 billion and the lowest is $2.13 billion. Westinghouse Air Brake Technologies posted sales of $1.08 billion during the same quarter last year, which suggests a positive year over year growth rate of 99.1%. The company is expected to issue its next earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that Westinghouse Air Brake Technologies will report full-year sales of $8.29 billion for the current fiscal year, with estimates ranging from $8.14 billion to $8.41 billion. For the next year, analysts anticipate that the firm will report sales of $9.13 billion, with estimates ranging from $8.50 billion to $9.41 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Westinghouse Air Brake Technologies.
Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.08. Westinghouse Air Brake Technologies had a net margin of 3.68% and a return on equity of 8.34%. The firm had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the company posted $0.96 earnings per share. The firm’s revenue was up 101.2% compared to the same quarter last year.
In other news, major shareholder Electric Co General sold 16,969,692 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $70.33, for a total value of $1,193,478,438.36. Following the completion of the transaction, the insider now owns 2,048,515 shares in the company, valued at approximately $144,072,059.95. The sale was disclosed in a document filed with the SEC, which is available at this link. 6.56% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Westinghouse Air Brake Technologies by 3.7% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 26,079 shares of the transportation company’s stock valued at $1,871,000 after buying an additional 923 shares during the period. Cleararc Capital Inc. purchased a new stake in Westinghouse Air Brake Technologies during the first quarter worth about $248,000. Commonwealth Bank of Australia grew its position in Westinghouse Air Brake Technologies by 13.0% during the first quarter. Commonwealth Bank of Australia now owns 79,597 shares of the transportation company’s stock worth $5,856,000 after buying an additional 9,136 shares during the period. Beddow Capital Management Inc. grew its position in Westinghouse Air Brake Technologies by 432.2% during the second quarter. Beddow Capital Management Inc. now owns 57,987 shares of the transportation company’s stock worth $4,161,000 after buying an additional 47,092 shares during the period. Finally, Xact Kapitalforvaltning AB increased its holdings in Westinghouse Air Brake Technologies by 21.4% in the first quarter. Xact Kapitalforvaltning AB now owns 22,903 shares of the transportation company’s stock valued at $1,688,000 after buying an additional 4,041 shares in the last quarter. 92.47% of the stock is currently owned by institutional investors.
WAB stock traded up $2.21 during trading on Friday, hitting $74.46. The stock had a trading volume of 1,788,293 shares, compared to its average volume of 2,155,902. Westinghouse Air Brake Technologies has a twelve month low of $61.00 and a twelve month high of $114.07. The stock has a market capitalization of $13.59 billion, a P/E ratio of 19.54, a PEG ratio of 1.35 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.32 and a quick ratio of 0.73. The company’s 50-day moving average price is $69.63 and its two-hundred day moving average price is $70.95.
Westinghouse Air Brake Technologies Company Profile
Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. The company's Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new switcher locomotives; rebuilds freight locomotives; supplies railway electronics, positive train control equipment, signal design, and engineering services; and provides related heat exchange and cooling systems.
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