Westinghouse Air Brake Technologies (NYSE:WAB – Get Free Report) released its quarterly earnings results on Wednesday. The transportation company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.86 by $0.14, Briefing.com reports. Westinghouse Air Brake Technologies had a return on equity of 12.05% and a net margin of 9.94%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period in the previous year, the company posted $1.70 EPS. Westinghouse Air Brake Technologies’s revenue for the quarter was up 4.4% on a year-over-year basis. Westinghouse Air Brake Technologies updated its FY 2024 guidance to 7.450-7.650 EPS and its FY24 guidance to $7.45-7.65 EPS.
Westinghouse Air Brake Technologies Stock Performance
Shares of NYSE:WAB traded down $0.89 during mid-day trading on Thursday, reaching $186.45. The company had a trading volume of 43,929 shares, compared to its average volume of 1,082,235. The company has a current ratio of 1.38, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. The firm has a market cap of $32.66 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 1.50 and a beta of 1.27. The company’s 50-day moving average price is $174.74 and its 200-day moving average price is $165.38. Westinghouse Air Brake Technologies has a one year low of $102.16 and a one year high of $192.48.
Westinghouse Air Brake Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.20 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.80 annualized dividend and a yield of 0.43%. Westinghouse Air Brake Technologies’s payout ratio is 14.04%.
Insider Buying and Selling
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on WAB shares. Susquehanna upped their price objective on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a “positive” rating in a research note on Monday. Bank of America upped their target price on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Stephens increased their price objective on Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $169.40.
Read Our Latest Analysis on WAB
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.
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