Westinghouse Air Brake Technologies (NYSE:WAB) Releases Earnings Results, Beats Expectations By $0.40 EPS

Westinghouse Air Brake Technologies (NYSE:WAB) posted its quarterly earnings data on Wednesday. The transportation company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40, Briefing.com reports. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the business earned $1.28 earnings per share. Westinghouse Air Brake Technologies updated its FY24 guidance to $7.00-$7.40 EPS and its FY 2024 guidance to 7.000-7.400 EPS.

Westinghouse Air Brake Technologies Stock Down 0.3 %

Shares of NYSE:WAB traded down $0.50 on Thursday, hitting $162.88. 849,051 shares of the company’s stock were exchanged, compared to its average volume of 1,047,697. Westinghouse Air Brake Technologies has a 1-year low of $91.89 and a 1-year high of $167.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.20. The company has a market capitalization of $28.80 billion, a PE ratio of 36.04, a P/E/G ratio of 1.71 and a beta of 1.40. The firm’s 50-day moving average is $142.63 and its 200 day moving average is $127.64.

Westinghouse Air Brake Technologies Increases Dividend

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

Insider Activity

In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 2,668 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $140.46, for a total transaction of $374,747.28. Following the sale, the executive vice president now owns 24,792 shares in the company, valued at approximately $3,482,284.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $137.26, for a total transaction of $411,780.00. Following the completion of the sale, the executive vice president now directly owns 22,354 shares in the company, valued at $3,068,310.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicole B. Theophilus sold 2,668 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $140.46, for a total transaction of $374,747.28. Following the completion of the sale, the executive vice president now owns 24,792 shares of the company’s stock, valued at approximately $3,482,284.32. The disclosure for this sale can be found here. In 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.

Analysts Set New Price Targets

A number of equities analysts have commented on WAB shares. Bank of America boosted 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 report on Monday, April 15th. TD Cowen raised their price target 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. Stephens raised their price objective on shares of Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. KeyCorp lifted their price objective on shares of Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Morgan Stanley started coverage on shares of Westinghouse Air Brake Technologies in a report on Monday, January 8th. They issued an “overweight” rating and a $137.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $156.18.

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.