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

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 7.000-7.400 for the period, compared to the consensus EPS estimate of 6.790. The company issued revenue guidance of $10.3 billion-$10.6 billion, compared to the consensus revenue estimate of $10.2 billion. Westinghouse Air Brake Technologies also updated its FY24 guidance to $7.00-$7.40 EPS.

Wall Street Analyst Weigh In

Several brokerages have commented on WAB. Bank of America raised their price target on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a buy rating in a research note on Monday, April 15th. Susquehanna increased their price objective on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a positive rating in a report on Thursday. Jefferies Financial Group upgraded shares of Westinghouse Air Brake Technologies from a hold rating to a buy rating and upped their price target for the company from $115.00 to $150.00 in a research report on Thursday, January 11th. Morgan Stanley began coverage on shares of Westinghouse Air Brake Technologies in a research report on Monday, January 8th. They issued an overweight rating and a $137.00 price target for the company. Finally, TD Cowen increased their target price on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the stock a hold rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $156.18.

Westinghouse Air Brake Technologies Stock Performance

NYSE:WAB traded up $0.53 during midday trading on Friday, reaching $163.71. The stock had a trading volume of 522,479 shares, compared to its average volume of 1,053,660. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.52 and a quick ratio of 0.63. The firm’s fifty day simple moving average is $143.19 and its 200-day simple moving average is $127.89. Westinghouse Air Brake Technologies has a 1-year low of $91.89 and a 1-year high of $167.49. The stock has a market capitalization of $28.95 billion, a P/E ratio of 31.87, a PEG ratio of 1.76 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Westinghouse Air Brake Technologies had a net margin of 9.20% and a return on equity of 11.25%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business earned $1.28 EPS. The firm’s revenue was up 13.9% on a year-over-year basis. On average, equities research analysts forecast that Westinghouse Air Brake Technologies will post 7.2 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a dividend of $0.20 per share. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Thursday, February 22nd. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 15.63%.

Insiders Place Their Bets

In other Westinghouse Air Brake Technologies news, VP David L. Deninno sold 6,607 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $135.61, for a total value of $895,975.27. Following the completion of the transaction, the vice president now directly owns 65,535 shares of the company’s stock, valued at $8,887,201.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP David L. Deninno sold 6,607 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $135.61, for a total transaction of $895,975.27. Following the completion of the transaction, the vice president now owns 65,535 shares in the company, valued at $8,887,201.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Rafael Santana sold 40,219 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the transaction, the chief executive officer now owns 123,019 shares of the company’s stock, valued at approximately $17,298,931.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,964 shares of company stock valued at $8,924,584. 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.