Westinghouse Air Brake Technologies (NYSE:WAB) Updates FY 2024 Earnings Guidance

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 7.000-7.400 for the period, compared to the consensus earnings per share estimate of 6.790. The company issued revenue guidance of $10.3 billion-$10.6 billion, compared to the consensus revenue estimate of $10.2 billion. Westinghouse Air Brake Technologies also updated its FY24 guidance to $7.00-$7.40 EPS.

Wall Street Analyst Weigh In

WAB has been the subject of a number of recent research reports. KeyCorp boosted their price objective on shares of Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an overweight rating in a research report on Thursday. Susquehanna boosted their target price on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the stock a positive rating in a report on Thursday. Stephens upped their price target on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an overweight rating in a report on Thursday. Morgan Stanley began coverage on shares of Westinghouse Air Brake Technologies in a report on Monday, January 8th. They set an overweight rating and a $137.00 price target on the stock. Finally, Wells Fargo & Company upped their target price on shares of 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. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $156.18.

Westinghouse Air Brake Technologies Stock Up 0.3 %

Shares of WAB traded up $0.53 during mid-day trading on Friday, hitting $163.71. The company’s stock had a trading volume of 522,479 shares, compared to its average volume of 1,053,660. The company’s 50-day moving average is $143.19 and its 200-day moving average is $127.89. Westinghouse Air Brake Technologies has a 52-week low of $91.89 and a 52-week high of $167.49. The firm has a market capitalization of $28.95 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 1.76 and a beta of 1.40. The company has a current ratio of 1.52, a quick ratio of 0.63 and a debt-to-equity ratio of 0.38.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The company’s revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts forecast that Westinghouse Air Brake Technologies will post 7.2 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

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

Insider Activity at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 2,668 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $140.46, for a total value of $374,747.28. Following the completion of the transaction, the executive vice president now owns 24,792 shares of the company’s stock, valued at $3,482,284.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Rafael Santana sold 40,219 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the sale, the chief executive officer now owns 123,019 shares in the company, valued at $17,298,931.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nicole B. Theophilus sold 2,668 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $140.46, for a total transaction of $374,747.28. Following the completion of the transaction, the executive vice president now directly owns 24,792 shares in the company, valued at $3,482,284.32. The disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock valued at $8,924,584 over the last 90 days. Insiders own 1.10% of the company’s stock.

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.