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

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 7.450-7.650 for the period, compared to the consensus earnings per share estimate of 7.490. 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 $7.45-7.65 EPS.

Westinghouse Air Brake Technologies Stock Down 0.2 %

Westinghouse Air Brake Technologies stock opened at $188.76 on Friday. The firm has a market capitalization of $33.29 billion, a P/E ratio of 36.87, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a 50-day simple moving average of $175.94 and a 200-day simple moving average of $165.81. Westinghouse Air Brake Technologies has a one year low of $102.67 and a one year high of $192.48. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 1.38.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.87 by $0.13. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.68 billion. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. Westinghouse Air Brake Technologies’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.70 earnings per share. As a group, equities analysts expect that Westinghouse Air Brake Technologies will post 7.47 earnings per share for the current year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 15.63%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WAB shares. Bank of America lifted their price objective on shares of 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 target on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Stephens increased their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their target price on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.80.

Insider Activity at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, insider Alicia Hammersmith sold 4,169 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $165.54, for a total value of $690,136.26. Following the transaction, the insider now owns 5,606 shares in the company, valued at approximately $928,017.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Alicia Hammersmith sold 4,169 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $165.54, for a total value of $690,136.26. Following the completion of the transaction, the insider now owns 5,606 shares in the company, valued at $928,017.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nicole B. Theophilus sold 4,801 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $154.64, for a total value of $742,426.64. Following the sale, the executive vice president now owns 15,608 shares in the company, valued at approximately $2,413,621.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,392 shares of company stock valued at $2,754,390 over the last ninety days. Insiders own 1.10% of the company’s stock.

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.