Westinghouse Air Brake Technologies (NYSE:WAB) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Westinghouse Air Brake Technologies (NYSE:WAB) 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

In other Westinghouse Air Brake Technologies news, EVP Gregory Sbrocco sold 1,646 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $167.30, for a total transaction of $275,375.80. Following the completion of the transaction, the executive vice president now owns 16,666 shares in the company, valued at approximately $2,788,221.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Albert J. Neupaver sold 29,100 shares of the business’s 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 owns 595,412 shares of the company’s stock, valued at $96,236,441.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory Sbrocco sold 1,646 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $167.30, for a total transaction of $275,375.80. Following the transaction, the executive vice president now owns 16,666 shares of the company’s stock, valued at $2,788,221.80. The disclosure for this sale can be found here. Insiders sold 36,746 shares of company stock valued at $5,955,249 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

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.

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.