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

Westinghouse Air Brake Technologies (NYSE:WAB) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $7.00-$7.40 for the period, compared to the consensus EPS estimate of $6.79. The company issued revenue guidance of $10.25-$10.55 billion, compared to the consensus revenue estimate of $10.20 billion. Westinghouse Air Brake Technologies also updated its FY 2024 guidance to 7.000-7.400 EPS.

Analysts Set New Price Targets

WAB has been the subject of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Westinghouse Air Brake Technologies from a hold rating to a buy rating and boosted their price target for the company from $115.00 to $150.00 in a research report on Thursday, January 11th. Morgan Stanley assumed coverage on Westinghouse Air Brake Technologies in a research note on Monday, January 8th. They set an overweight rating and a $137.00 price target on the stock. KeyCorp lifted their price objective on shares of Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the company an overweight rating in a research note on Thursday, February 15th. Susquehanna raised their target price on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the stock a positive rating in a report on Thursday. Finally, Wells Fargo & Company upped their price target on shares of Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an overweight rating in a report on Thursday, February 15th. 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 stock has a consensus rating of Moderate Buy and an average price target of $153.45.

Westinghouse Air Brake Technologies Price Performance

NYSE WAB traded down $0.88 during trading hours on Thursday, hitting $162.50. 553,694 shares of the company’s stock traded hands, compared to its average volume of 1,043,873. The company has a market capitalization of $28.73 billion, a PE ratio of 35.95, a PEG ratio of 1.71 and a beta of 1.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.20 and a quick ratio of 0.63. Westinghouse Air Brake Technologies has a 52-week low of $91.89 and a 52-week high of $167.49. The firm’s 50-day moving average is $142.63 and its 200-day moving average is $127.64.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Westinghouse Air Brake Technologies had a return on equity of 10.34% and a net margin of 8.42%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the business earned $1.28 earnings per share. The business’s revenue was up 13.9% compared to the same quarter last year. Equities analysts forecast that Westinghouse Air Brake Technologies will post 6.73 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Westinghouse Air Brake Technologies’s payout ratio is 17.70%.

Insider Activity

In related news, CEO Rafael Santana sold 40,219 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $140.62, for a total transaction of $5,655,595.78. Following the completion of the sale, the chief executive officer now directly owns 123,019 shares of the company’s stock, valued at approximately $17,298,931.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Westinghouse Air Brake Technologies news, CEO Rafael Santana sold 40,219 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value of $5,655,595.78. Following the sale, the chief executive officer now owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Brian Hehir sold 5,470 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $135.80, for a total value of $742,826.00. Following the transaction, the director now owns 23,065 shares of the company’s stock, valued at $3,132,227. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,964 shares of company stock valued at $8,924,584. 1.10% of the stock is currently owned by company 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.