Westinghouse Air Brake Technologies (NYSE:WAB) Updates FY24 Earnings Guidance

Westinghouse Air Brake Technologies (NYSE:WAB) updated its FY24 earnings guidance on Wednesday. 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WAB. Susquehanna upped their price target on Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the stock a positive rating in a report on Thursday, February 15th. Jefferies Financial Group upgraded Westinghouse Air Brake Technologies from a hold rating to a buy rating and boosted their price objective for the stock from $115.00 to $150.00 in a research note on Thursday, January 11th. The Goldman Sachs Group boosted their price objective on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Bank of America boosted their price objective on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the stock a buy rating in a research note on Monday, April 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 objective for the company. 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, the stock presently has a consensus rating of Moderate Buy and an average price target of $146.91.

Westinghouse Air Brake Technologies Price Performance

WAB stock opened at $148.50 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.20 and a quick ratio of 0.63. The business has a 50 day simple moving average of $142.63 and a 200-day simple moving average of $127.64. The firm has a market capitalization of $26.26 billion, a PE ratio of 32.85, a price-to-earnings-growth ratio of 1.68 and a beta of 1.40. Westinghouse Air Brake Technologies has a 1 year low of $91.89 and a 1 year high of $151.00.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). The company had revenue of $2.53 billion during 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%. Westinghouse Air Brake Technologies’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the company earned $1.30 earnings per share. Equities research analysts anticipate that Westinghouse Air Brake Technologies will post 6.73 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given 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 dividend on an annualized basis and a dividend yield of 0.54%. Westinghouse Air Brake Technologies’s dividend payout ratio is 17.70%.

Insider Buying and Selling

In related news, CEO Rafael Santana sold 40,219 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Rafael Santana sold 40,219 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $140.62, for a total value 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Hehir sold 5,470 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $135.80, for a total value of $742,826.00. Following the completion of the transaction, the director now owns 23,065 shares of the company’s stock, valued at $3,132,227. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,964 shares of company stock worth $8,924,584. 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.