Westinghouse Air Brake Technologies (NYSE:WAB) Shares Gap Down After Earnings Miss

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $208.12, but opened at $192.00. Westinghouse Air Brake Technologies shares last traded at $186.55, with a volume of 669,694 shares traded.

The transportation company reported $1.68 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a return on equity of 12.52% and a net margin of 10.25%.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.54%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, February 21st. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is 13.33%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. KeyCorp raised their target price on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Stephens increased their price target on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Bank of America increased their price target on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group increased their price target on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Susquehanna increased their price target on 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. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $188.50.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

A number of institutional investors have recently modified their holdings of WAB. Erste Asset Management GmbH acquired a new stake in shares of Westinghouse Air Brake Technologies in the third quarter valued at $61,474,000. Lord Abbett & CO. LLC purchased a new position in Westinghouse Air Brake Technologies in the third quarter valued at $24,630,000. KLP Kapitalforvaltning AS purchased a new position in Westinghouse Air Brake Technologies in the fourth quarter valued at $22,509,000. AGF Management Ltd. purchased a new position in Westinghouse Air Brake Technologies in the fourth quarter valued at $10,566,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Westinghouse Air Brake Technologies in the third quarter valued at $7,128,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Westinghouse Air Brake Technologies Stock Performance

The stock has a market capitalization of $31.90 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27. The stock has a fifty day moving average of $199.40 and a 200-day moving average of $185.99. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

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.