Westinghouse Air Brake Technologies (WAB) to Release Earnings on Wednesday

Westinghouse Air Brake Technologies (NYSE:WAB) will be issuing its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $1.48 per share for the quarter. Westinghouse Air Brake Technologies has set its FY24 guidance at $6.50-6.90 EPS and its FY 2024 guidance at 6.500-6.900 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Wednesday, February 14th. The transportation company reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 EPS. On average, analysts expect Westinghouse Air Brake Technologies to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Westinghouse Air Brake Technologies Stock Performance

NYSE WAB opened at $145.69 on Tuesday. The stock has a 50-day simple moving average of $142.39 and a two-hundred day simple moving average of $127.32. The firm has a market capitalization of $25.76 billion, a P/E ratio of 32.23, a PEG ratio of 1.66 and a beta of 1.40. Westinghouse Air Brake Technologies has a fifty-two week low of $91.89 and a fifty-two week high of $151.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.20.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently disclosed 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 was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analyst Weigh In

WAB has been the subject of several recent analyst reports. KeyCorp lifted their price target on 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. Morgan Stanley initiated coverage on Westinghouse Air Brake Technologies in a research note on Monday, January 8th. They issued an “overweight” rating and a $137.00 price target for the company. Susquehanna lifted their price target on Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the company a “positive” rating in a research note on Thursday, February 15th. Bank of America lifted their price target on 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. Finally, Wells Fargo & Company lifted their price target on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.91.

Insider Transactions at Westinghouse Air Brake Technologies

In other news, VP David L. Deninno sold 6,607 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $135.61, for a total transaction of $895,975.27. Following the transaction, the vice president now directly owns 65,535 shares in the company, valued at approximately $8,887,201.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP David L. Deninno sold 6,607 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $135.61, for a total transaction of $895,975.27. Following the transaction, the vice president now directly owns 65,535 shares in the company, valued at approximately $8,887,201.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Nicole B. Theophilus sold 2,668 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $140.46, for a total transaction of $374,747.28. Following the sale, the executive vice president now directly owns 24,792 shares in the company, valued at approximately $3,482,284.32. The disclosure for this sale can be found here. Insiders have sold a total of 63,964 shares of company stock worth $8,924,584 in the last ninety days. 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.