Westinghouse Air Brake Technologies (NYSE:WAB) Issues 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 $7.45-7.65 for the period, compared to the consensus EPS estimate of $7.49. The company issued revenue guidance of $10.25-10.55 billion, compared to the consensus revenue estimate of $10.43 billion. Westinghouse Air Brake Technologies also updated its FY 2024 guidance to 7.450-7.650 EPS.

Westinghouse Air Brake Technologies Stock Down 1.3 %

NYSE:WAB traded down $2.39 during trading hours on Wednesday, hitting $187.32. 744,950 shares of the company traded hands, compared to its average volume of 1,081,554. The company has a quick ratio of 0.73, a current ratio of 1.38 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $174.11 and its 200-day simple moving average is $165.22. Westinghouse Air Brake Technologies has a one year low of $98.96 and a one year high of $192.48. The company has a market cap of $33.04 billion, a PE ratio of 37.05, a PEG ratio of 1.59 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.08. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $1.41 EPS. Equities analysts predict that Westinghouse Air Brake Technologies will post 7.46 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Wednesday, November 13th. Westinghouse Air Brake Technologies’s payout ratio is 15.63%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WAB shares. Bank of America boosted their price objective on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Susquehanna boosted their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Westinghouse Air Brake Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.90.

Insider Activity

In related news, CTO Eric Gebhardt sold 7,422 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total value of $1,160,207.04. Following the completion of the sale, the chief technology officer now owns 22,411 shares of the company’s stock, valued at $3,503,287.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 4,801 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $154.64, for a total value of $742,426.64. Following the completion of the transaction, the executive vice president now owns 15,608 shares in the company, valued at approximately $2,413,621.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Eric Gebhardt sold 7,422 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total value of $1,160,207.04. Following the completion of the transaction, the chief technology officer now owns 22,411 shares of the company’s stock, valued at approximately $3,503,287.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,392 shares of company stock valued at $2,754,390. 1.10% of the stock is currently owned by company insiders.

Westinghouse Air Brake Technologies Company Profile

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.