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 earnings per share guidance of $7.00-$7.40 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

WAB has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Redburn Atlantic cut Westinghouse Air Brake Technologies from a buy rating to a neutral rating and set a $135.00 price target on the stock. in a report on Thursday, February 15th. Wells Fargo & Company upped their price target on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. Jefferies Financial Group upgraded shares of Westinghouse Air Brake Technologies from a hold rating to a buy rating and lifted their price objective for the company from $115.00 to $150.00 in a research report on Thursday, January 11th. Finally, Stephens upped their target price on shares of Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $146.91.

Westinghouse Air Brake Technologies Price Performance

Shares of Westinghouse Air Brake Technologies stock opened at $148.50 on Wednesday. The stock has a 50 day moving average of $142.63 and a 200 day moving average of $127.64. Westinghouse Air Brake Technologies has a 12 month low of $91.89 and a 12 month high of $151.00. The firm has a market cap of $26.26 billion, a PE ratio of 32.85, a PEG ratio of 1.68 and a beta of 1.40. The company has a current ratio of 1.20, a quick ratio of 0.63 and a debt-to-equity ratio of 0.31.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the previous year, the company posted $1.30 earnings per share. Westinghouse Air Brake Technologies’s quarterly revenue was up 9.5% on a year-over-year basis. On average, research analysts expect that Westinghouse Air Brake Technologies will post 6.73 EPS for the current fiscal year.

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 given 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 0.54%. Westinghouse Air Brake Technologies’s dividend payout ratio is 17.70%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 2,668 shares of the company’s stock in a transaction that occurred 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 directly owns 24,792 shares in the company, valued at $3,482,284.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Westinghouse Air Brake Technologies news, CEO Rafael Santana sold 40,219 shares of the company’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 transaction of $5,655,595.78. Following the sale, the chief executive officer now directly owns 123,019 shares in the company, valued at $17,298,931.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nicole B. Theophilus sold 2,668 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $140.46, for a total value of $374,747.28. Following the completion of the sale, the executive vice president now owns 24,792 shares in the company, valued at $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 over the last ninety days. Company insiders own 1.10% of the company’s stock.

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.