Westinghouse Air Brake Technologies (NYSE:WAB – Get Free Report) released its quarterly earnings data on Wednesday. The transportation company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.08, RTT News reports. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the company posted $1.41 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Westinghouse Air Brake Technologies updated its FY 2024 guidance to 7.200-7.500 EPS and its FY24 guidance to $7.20-7.50 EPS.
Westinghouse Air Brake Technologies Stock Up 0.8 %
WAB stock traded up $1.33 during mid-day trading on Friday, hitting $160.46. 269,702 shares of the company were exchanged, compared to its average volume of 1,084,596. The firm has a market cap of $28.30 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.38 and a beta of 1.29. Westinghouse Air Brake Technologies has a 1-year low of $98.70 and a 1-year high of $170.83. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.77 and a current ratio of 1.38. The firm’s 50 day simple moving average is $163.56 and its 200 day simple moving average is $150.25.
Westinghouse Air Brake Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Westinghouse Air Brake Technologies’s payout ratio is 15.63%.
Insider Transactions at Westinghouse Air Brake Technologies
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on WAB shares. KeyCorp raised their price objective on shares of Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. The Goldman Sachs Group increased their price objective on Westinghouse Air Brake Technologies from $160.00 to $181.00 and gave the company a “neutral” rating in a research report on Tuesday, June 4th. Stephens lifted 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. Bank of America upped their price target on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a research note on Monday. Finally, Susquehanna lifted their price objective on Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the stock a “positive” rating in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $160.82.
Check Out Our Latest Stock Report on WAB
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.
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