Westinghouse Air Brake Technologies Corp (NYSE:WAB) Expected to Post Quarterly Sales of $2.15 Billion

Brokerages predict that Westinghouse Air Brake Technologies Corp (NYSE:WAB) will post $2.15 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Westinghouse Air Brake Technologies’ earnings. The lowest sales estimate is $2.13 billion and the highest is $2.20 billion. Westinghouse Air Brake Technologies posted sales of $1.08 billion in the same quarter last year, which suggests a positive year over year growth rate of 99.1%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, October 31st.

On average, analysts expect that Westinghouse Air Brake Technologies will report full-year sales of $8.30 billion for the current year, with estimates ranging from $8.14 billion to $8.41 billion. For the next year, analysts anticipate that the company will report sales of $9.12 billion, with estimates ranging from $8.50 billion to $9.41 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Westinghouse Air Brake Technologies.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.08. Westinghouse Air Brake Technologies had a return on equity of 8.34% and a net margin of 3.68%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the business earned $0.96 earnings per share. The company’s revenue was up 101.2% compared to the same quarter last year.

A number of research firms have recently commented on WAB. Goldman Sachs Group raised Westinghouse Air Brake Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $84.00 to $89.00 in a research report on Wednesday, August 7th. ValuEngine raised Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Citigroup set a $84.00 price target on Westinghouse Air Brake Technologies and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Morgan Stanley began coverage on Westinghouse Air Brake Technologies in a research report on Tuesday, September 10th. They set an “equal weight” rating and a $73.00 price target on the stock. Finally, Wellington Shields lowered Westinghouse Air Brake Technologies from an “accumulate” rating to a “hold” rating in a research report on Thursday, July 11th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.30.

In other news, major shareholder Electric Co General sold 16,969,692 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $70.33, for a total transaction of $1,193,478,438.36. Following the sale, the insider now owns 2,048,515 shares of the company’s stock, valued at $144,072,059.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.56% of the company’s stock.

A number of institutional investors have recently made changes to their positions in WAB. Williams Jones & Associates LLC raised its position in Westinghouse Air Brake Technologies by 36.9% in the 1st quarter. Williams Jones & Associates LLC now owns 721,867 shares of the transportation company’s stock valued at $53,216,000 after buying an additional 194,724 shares during the last quarter. Capital Bank & Trust Co raised its position in Westinghouse Air Brake Technologies by 14.5% in the 2nd quarter. Capital Bank & Trust Co now owns 956,722 shares of the transportation company’s stock valued at $68,548,000 after buying an additional 121,236 shares during the last quarter. Thompson Investment Management Inc. raised its position in Westinghouse Air Brake Technologies by 1,037.2% in the 2nd quarter. Thompson Investment Management Inc. now owns 58,507 shares of the transportation company’s stock valued at $4,198,000 after buying an additional 53,362 shares during the last quarter. United Capital Financial Advisers LLC raised its position in Westinghouse Air Brake Technologies by 35.6% in the 2nd quarter. United Capital Financial Advisers LLC now owns 197,199 shares of the transportation company’s stock valued at $14,151,000 after buying an additional 51,814 shares during the last quarter. Finally, Beddow Capital Management Inc. raised its position in Westinghouse Air Brake Technologies by 432.2% in the 2nd quarter. Beddow Capital Management Inc. now owns 57,987 shares of the transportation company’s stock valued at $4,161,000 after buying an additional 47,092 shares during the last quarter. 92.47% of the stock is currently owned by institutional investors and hedge funds.

WAB traded down $0.60 during midday trading on Tuesday, reaching $65.48. 43,179 shares of the company were exchanged, compared to its average volume of 1,308,335. The stock has a market capitalization of $12.43 billion, a P/E ratio of 17.21, a PEG ratio of 1.31 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.32. The stock’s 50-day simple moving average is $69.77 and its 200 day simple moving average is $70.98. Westinghouse Air Brake Technologies has a one year low of $61.00 and a one year high of $106.12.

About Westinghouse Air Brake Technologies

Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. The company's Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new switcher locomotives; rebuilds freight locomotives; supplies railway electronics, positive train control equipment, signal design, and engineering services; and provides related heat exchange and cooling systems.

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