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

Westinghouse Air Brake Technologies (NYSE:WAB) issued an update on its FY24 earnings guidance on Wednesday morning. 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 Trading Up 0.7 %

NYSE WAB opened at $164.36 on Friday. The firm has a market cap of $28.99 billion, a P/E ratio of 32.10, a P/E/G ratio of 1.73 and a beta of 1.40. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.52 and a quick ratio of 0.63. The stock’s 50-day moving average is $143.78 and its 200-day moving average is $128.14. Westinghouse Air Brake Technologies has a one year low of $91.89 and a one year high of $167.49.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. Westinghouse Air Brake Technologies’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 earnings per share. Sell-side analysts anticipate that Westinghouse Air Brake Technologies will post 7.32 earnings per share 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Thursday, February 22nd. 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 (DPR) is currently 15.63%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WAB shares. Stephens boosted their price target on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an overweight rating in a research note on Thursday. Morgan Stanley initiated coverage on Westinghouse Air Brake Technologies in a research note on Monday, January 8th. They issued an overweight rating and a $137.00 price target for the company. Wells Fargo & Company lifted their price objective on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an overweight rating in a report on Thursday, February 15th. TD Cowen lifted their price objective on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a hold rating in a report on Thursday. Finally, KeyCorp lifted their price objective on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an overweight rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $156.18.

Insiders Place Their Bets

In other Westinghouse Air Brake Technologies news, VP David L. Deninno sold 6,607 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 65,535 shares of the company’s stock, valued at approximately $8,887,201.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Westinghouse Air Brake Technologies news, VP David L. Deninno sold 6,607 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 65,535 shares of the company’s stock, valued at approximately $8,887,201.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nicole B. Theophilus sold 2,668 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was 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 directly owns 24,792 shares of the company’s stock, valued at approximately $3,482,284.32. The disclosure for this sale can be found here. Insiders sold a total of 63,964 shares of company stock valued at $8,924,584 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

About Westinghouse Air Brake Technologies

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.