Westinghouse Air Brake Technologies (NYSE:WAB) Updates FY24 Earnings Guidance

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $7.00-$7.40 for the period, compared to the consensus EPS estimate of $6.79. The company issued revenue guidance of $10.25-$10.55 billion, compared to the consensus revenue estimate of $10.20 billion. Westinghouse Air Brake Technologies also updated its FY 2024 guidance to 7.000-7.400 EPS.

Westinghouse Air Brake Technologies Stock Performance

Shares of NYSE:WAB traded down $0.88 on Thursday, hitting $162.50. 553,694 shares of the company were exchanged, compared to its average volume of 1,043,873. The firm has a market capitalization of $28.73 billion, a P/E ratio of 35.95, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40. The company has a current ratio of 1.20, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $142.63 and its 200 day moving average price is $127.64. Westinghouse Air Brake Technologies has a 1-year low of $91.89 and a 1-year high of $167.49.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued 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. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.40 billion. Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. Westinghouse Air Brake Technologies’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. Sell-side analysts predict that Westinghouse Air Brake Technologies will post 6.73 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Westinghouse Air Brake Technologies’s payout ratio is presently 17.70%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WAB. The Goldman Sachs Group upped their price target on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Jefferies Financial Group upgraded Westinghouse Air Brake Technologies from a hold rating to a buy rating and raised their price target for the stock from $115.00 to $150.00 in a research report on Thursday, January 11th. Morgan Stanley assumed coverage on shares of Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They issued an overweight rating and a $137.00 price target for the company. Stephens upped their target price on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Bank of America lifted their price target on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a buy rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $153.45.

Insider Transactions 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 dated Friday, March 15th. The shares were 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 approximately $3,482,284.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 5,470 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $135.80, for a total value of $742,826.00. Following the completion of the sale, the director now directly owns 23,065 shares of the company’s stock, valued at approximately $3,132,227. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicole B. Theophilus sold 2,668 shares of the company’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 disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock valued at $8,924,584 in the last 90 days. 1.10% of the stock is currently owned by 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.