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

Westinghouse Air Brake Technologies (NYSE:WAB) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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 Price Performance

Westinghouse Air Brake Technologies stock opened at $188.76 on Friday. 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 has a market capitalization of $33.29 billion, a P/E ratio of 36.87, a PEG ratio of 1.50 and a beta of 1.27. The firm has a fifty day moving average of $175.94 and a 200-day moving average of $165.81. Westinghouse Air Brake Technologies has a 52-week low of $102.67 and a 52-week high of $192.48.

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

Westinghouse Air Brake Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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

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.