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

Westinghouse Air Brake Technologies (NYSE:WAB) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 7.000-7.400 for the period, compared to the consensus 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.

Westinghouse Air Brake Technologies Trading Up 0.7 %

WAB opened at $164.36 on Friday. Westinghouse Air Brake Technologies has a one year low of $91.89 and a one year high of $167.49. The firm has a market capitalization of $28.99 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 1.73 and a beta of 1.40. The business has a 50 day simple moving average of $143.78 and a two-hundred day simple moving average of $128.14. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.52 and a quick ratio of 0.63.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. Analysts predict that Westinghouse Air Brake Technologies will post 7.32 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WAB. Wells Fargo & Company increased their target price on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Susquehanna raised their price objective on Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a positive rating in a research report on Thursday. Bank of America raised their price objective on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a buy rating in a research report on Monday, April 15th. Redburn Atlantic lowered Westinghouse Air Brake Technologies from a buy rating to a neutral rating and set a $135.00 price objective for the company. in a research report on Thursday, February 15th. Finally, Jefferies Financial Group raised Westinghouse Air Brake Technologies from a hold rating to a buy rating and raised their price objective for the company from $115.00 to $150.00 in a research report on Thursday, January 11th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $156.18.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, Director Brian Hehir sold 5,470 shares of the stock in a transaction 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 sale, the director now directly owns 23,065 shares in the company, valued at approximately $3,132,227. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP David L. Deninno sold 6,607 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $135.61, for a total value of $895,975.27. Following the completion of the sale, the vice president now owns 65,535 shares of the company’s stock, valued at $8,887,201.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Hehir sold 5,470 shares of Westinghouse Air Brake Technologies stock in a transaction on Thursday, February 15th. The stock was 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 disclosure for this sale can be found here. In the last three months, insiders have sold 63,964 shares of company stock worth $8,924,584. 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.