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

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 7.200-7.500 for the period, compared to the consensus EPS estimate of 7.390. The company issued revenue guidance of $10.3 billion-$10.6 billion, compared to the consensus revenue estimate of $10.4 billion. Westinghouse Air Brake Technologies also updated its FY24 guidance to $7.20-7.50 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WAB. KeyCorp increased their target price on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Stephens increased their target price on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an overweight rating in a research note on Thursday, April 25th. The Goldman Sachs Group increased their target price on Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the company a neutral rating in a research note on Tuesday, June 4th. TD Cowen increased their target price on Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a hold rating in a research note on Thursday, April 25th. Finally, Susquehanna increased their target price on Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a positive rating in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $160.82.

Westinghouse Air Brake Technologies Stock Performance

Shares of NYSE WAB traded down $10.09 during mid-day trading on Wednesday, hitting $158.02. The company had a trading volume of 1,180,272 shares, compared to its average volume of 1,080,684. The stock has a market cap of $27.87 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.49 and a beta of 1.29. Westinghouse Air Brake Technologies has a 12 month low of $98.70 and a 12 month high of $170.83. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.52 and a quick ratio of 0.77. The firm’s 50 day simple moving average is $163.95 and its two-hundred day simple moving average is $150.14.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.08. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. As a group, equities research analysts forecast that Westinghouse Air Brake Technologies will post 7.34 earnings per share for the current year.

Westinghouse Air Brake Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date is Wednesday, August 14th. Westinghouse Air Brake Technologies’s payout ratio is currently 15.63%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, CAO John A. Mastalerz, Jr. sold 3,749 shares of Westinghouse Air Brake Technologies stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $162.70, for a total transaction of $609,962.30. Following the sale, the chief accounting officer now owns 8,479 shares of the company’s stock, valued at approximately $1,379,533.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Westinghouse Air Brake Technologies news, CAO John A. Mastalerz, Jr. sold 3,749 shares of Westinghouse Air Brake Technologies stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $162.70, for a total transaction of $609,962.30. Following the sale, the chief accounting officer now owns 8,479 shares of the company’s stock, valued at approximately $1,379,533.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Albert J. Neupaver sold 29,100 shares of Westinghouse Air Brake Technologies stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $161.63, for a total value of $4,703,433.00. Following the sale, the director now directly owns 595,412 shares in the company, valued at approximately $96,236,441.56. The disclosure for this sale can be found here. Insiders have sold 47,476 shares of company stock valued at $7,689,609 in the last quarter. 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.