Westinghouse Air Brake Technologies (NYSE:WAB) Issues 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 EPS guidance of 7.000-7.400 for the period, compared to the consensus EPS 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 6.4 %

Shares of WAB opened at $158.00 on Wednesday. The stock’s fifty day simple moving average is $142.63 and its 200 day simple moving average is $127.64. Westinghouse Air Brake Technologies has a twelve month low of $91.89 and a twelve month high of $158.00. 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 firm has a market capitalization of $27.94 billion, a P/E ratio of 32.85, a price-to-earnings-growth ratio of 1.68 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). Westinghouse Air Brake Technologies had a return on equity of 10.34% and a net margin of 8.42%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities research analysts forecast that Westinghouse Air Brake Technologies will post 6.73 earnings per share 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. Investors of record on Friday, February 23rd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 22nd. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 0.51%. Westinghouse Air Brake Technologies’s payout ratio is 17.70%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WAB shares. Stephens lifted their price objective on shares of Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the company an overweight rating in a research note on Thursday, February 15th. 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. KeyCorp raised their price objective on Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the company an overweight rating in a research note on Thursday, February 15th. Bank of America upped their target price 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. Finally, Susquehanna raised their price target on shares of Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the stock a positive rating in a research report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $146.91.

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 transaction, the executive vice president now owns 24,792 shares of the company’s stock, valued at approximately $3,482,284.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Nicole B. Theophilus sold 2,668 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $140.46, for a total value of $374,747.28. Following the sale, the executive vice president now owns 24,792 shares of the company’s stock, valued at approximately $3,482,284.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian Hehir sold 5,470 shares of the company’s stock in a transaction 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 owns 23,065 shares of the company’s stock, valued at approximately $3,132,227. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,964 shares of company stock valued at $8,924,584. 1.10% of the stock is currently 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.