Westinghouse Air Brake Technologies (NYSE:WAB) Updates FY24 Earnings Guidance

Westinghouse Air Brake Technologies (NYSE:WAB) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $7.45-7.65 for the period, compared to the consensus earnings per share 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 Performance

Shares of NYSE WAB opened at $188.76 on Friday. The firm has a market cap of $33.29 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 1.50 and a beta of 1.27. The business’s 50-day simple moving average is $175.94 and its 200-day simple moving average is $165.81. 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 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 earnings results on Wednesday, October 23rd. The transportation company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.13. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.68 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 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 EPS. As a group, equities research analysts expect that Westinghouse Air Brake Technologies will post 7.47 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently announced 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 (DPR) is currently 15.63%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, CTO Eric Gebhardt sold 7,422 shares of Westinghouse Air Brake Technologies 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Eric Gebhardt sold 7,422 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total transaction of $1,160,207.04. Following the completion of the sale, the chief technology officer now directly owns 22,411 shares of the company’s stock, valued at $3,503,287.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Hehir sold 1,000 shares of Westinghouse Air Brake Technologies stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, 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.