Westinghouse Air Brake Technologies (NYSE:WAB) Releases 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 Price Performance

Shares of NYSE:WAB traded down $2.39 during trading on Wednesday, reaching $187.32. 744,950 shares of the company traded hands, compared to its average volume of 1,081,554. The company’s 50 day moving average is $174.11 and its two-hundred day moving average is $165.22. The firm has a market capitalization of $33.04 billion, a PE ratio of 37.05, a PEG ratio of 1.59 and a beta of 1.27. The company has a quick ratio of 0.73, a current ratio of 1.38 and a debt-to-equity ratio of 0.33. Westinghouse Air Brake Technologies has a 52 week low of $98.96 and a 52 week high of $192.48.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.08. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors 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 annualized dividend and a dividend yield of 0.43%. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 15.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WAB. Bank of America upped their price objective on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Susquehanna upped their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $166.90.

Insiders Place Their Bets

In other Westinghouse Air Brake Technologies news, insider Alicia Hammersmith sold 4,169 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $165.54, for a total transaction of $690,136.26. Following the completion of the transaction, the insider now owns 5,606 shares in the company, valued at approximately $928,017.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Alicia Hammersmith sold 4,169 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $165.54, for a total transaction of $690,136.26. Following the completion of the sale, the insider now owns 5,606 shares of the company’s stock, valued at $928,017.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian Hehir sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total transaction of $161,620.00. Following the sale, the director now directly owns 23,230 shares of the company’s stock, valued at approximately $3,754,432.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,392 shares of company stock worth $2,754,390. 1.10% of the stock is currently owned by insiders.

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.