Westinghouse Air Brake Technologies (NYSE:WAB) Releases Earnings Results, Beats Expectations By $0.14 EPS

Westinghouse Air Brake Technologies (NYSE:WAB) 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

In related news, EVP Nicole B. Theophilus sold 4,801 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $154.64, for a total value of $742,426.64. Following the completion of the transaction, the executive vice president now directly owns 15,608 shares in the company, valued at approximately $2,413,621.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Alicia Hammersmith sold 4,169 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $165.54, for a total transaction of $690,136.26. Following the completion of the sale, the insider now directly owns 5,606 shares in the company, valued at $928,017.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nicole B. Theophilus sold 4,801 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $154.64, for a total value of $742,426.64. Following the transaction, the executive vice president now directly owns 15,608 shares of the company’s stock, valued at approximately $2,413,621.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,392 shares of company stock valued at $2,754,390. 1.10% of the stock is owned by company insiders.

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.

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.