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

Westinghouse Air Brake Technologies Co. (NYSE:WAB)’s stock price gapped down before the market opened on Wednesday following a weaker than expected 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 changing hands.

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

Westinghouse Air Brake Technologies Increases Dividend

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

Analyst Ratings Changes

WAB has been the topic of several research analyst reports. Stephens upped their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Bank of America upped their price objective on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. KeyCorp upped their price objective on Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Susquehanna upped their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group upped their price objective on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Westinghouse Air Brake Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.50.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

A number of hedge funds have recently made changes to their positions in WAB. Eastern Bank acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at about $33,000. Garde Capital Inc. acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at about $110,000. Dorsey & Whitney Trust CO LLC acquired a new position in Westinghouse Air Brake Technologies during the 4th quarter valued at about $204,000. Camden National Bank acquired a new position in Westinghouse Air Brake Technologies during the 3rd quarter valued at about $222,000. Finally, Longboard Asset Management LP acquired a new position in Westinghouse Air Brake Technologies during the 4th quarter valued at about $252,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Westinghouse Air Brake Technologies Stock Down 10.8 %

The company has a 50-day moving average of $199.40 and a 200-day moving average of $185.99. The company has a market capitalization of $31.90 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27. The company has a current ratio of 1.30, a quick ratio of 0.65 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.