Westinghouse Air Brake Technologies (NYSE:WAB) Releases FY 2024 Earnings Guidance

Westinghouse Air Brake Technologies (NYSE:WAB) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 7.000-7.400 for the period, compared to the consensus estimate of 6.790. The company issued revenue guidance of $10.3 billion-$10.6 billion, compared to the consensus revenue estimate of $10.2 billion. Westinghouse Air Brake Technologies also updated its FY24 guidance to $7.00-$7.40 EPS.

Westinghouse Air Brake Technologies Stock Performance

WAB opened at $164.36 on Friday. The firm has a market cap of $28.99 billion, a P/E ratio of 32.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.40. Westinghouse Air Brake Technologies has a 52-week low of $91.89 and a 52-week high of $167.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.63 and a current ratio of 1.52. The business’s fifty day moving average is $143.78 and its 200-day moving average is $128.14.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. Westinghouse Air Brake Technologies’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 EPS. Sell-side analysts expect that Westinghouse Air Brake Technologies will post 7.32 EPS for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.20 dividend. The ex-dividend date was Thursday, February 22nd. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 0.49%. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is 15.63%.

Wall Street Analysts Forecast Growth

WAB has been the topic of several research analyst reports. Stephens raised their price objective on Westinghouse Air Brake Technologies from $165.00 to $180.00 and gave the company an overweight rating in a research note on Thursday. Jefferies Financial Group raised Westinghouse Air Brake Technologies from a hold rating to a buy rating and raised their price objective for the company from $115.00 to $150.00 in a research note on Thursday, January 11th. Wells Fargo & Company raised their price objective 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. Redburn Atlantic lowered Westinghouse Air Brake Technologies from a buy rating to a neutral rating and set a $135.00 price objective on the stock. in a research note on Thursday, February 15th. Finally, Morgan Stanley began coverage on Westinghouse Air Brake Technologies in a research note on Monday, January 8th. They set an overweight rating and a $137.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Westinghouse Air Brake Technologies currently has an average rating of Moderate Buy and an average target price of $156.18.

Insider Transactions at Westinghouse Air Brake Technologies

In other news, CEO Rafael Santana sold 40,219 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Rafael Santana sold 40,219 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pascal Schweitzer sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $140.61, for a total value of $843,660.00. Following the transaction, the insider now owns 16,633 shares of the company’s stock, valued at $2,338,766.13. The disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock worth $8,924,584 over the last ninety days. 1.10% of the stock is owned by insiders.

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.