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

Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) 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.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Morgan Stanley started coverage on Westinghouse Air Brake Technologies in a report on Monday, January 8th. They issued an overweight rating and a $137.00 price objective for the company. Bank of America raised their price objective on Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a buy rating in a research report on Monday, April 15th. Wells Fargo & Company lifted their target price on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an overweight rating in a report on Thursday, February 15th. Finally, Stephens raised their price target on Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the stock an overweight rating in a research note on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $146.91.

Westinghouse Air Brake Technologies Price Performance

Shares of WAB stock traded up $14.90 during trading hours on Wednesday, hitting $163.38. The stock had a trading volume of 3,725,337 shares, compared to its average volume of 1,049,914. Westinghouse Air Brake Technologies has a one year low of $91.89 and a one year high of $167.49. 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 stock's 50-day moving average price is $142.63 and its two-hundred day moving average price is $127.64. The stock has a market capitalization of $28.89 billion, a price-to-earnings ratio of 36.15, a PEG ratio of 1.68 and a beta of 1.40.

Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) last announced its earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.48 billion. During the same quarter last year, the firm earned $1.30 EPS. The firm's quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that Westinghouse Air Brake Technologies will post 6.73 EPS for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.20 dividend. This is a positive change from Westinghouse Air Brake Technologies's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Westinghouse Air Brake Technologies's payout ratio is presently 17.70%.

Insider Activity at Westinghouse Air Brake Technologies

In related news, Director Brian Hehir sold 5,470 shares of the business's 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 sale, the director now owns 23,065 shares in the company, valued at $3,132,227. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 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 completion of the sale, the chief executive officer now owns 123,019 shares in the company, valued at $17,298,931.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Brian Hehir sold 5,470 shares of the company's stock in a transaction 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 sale, the director now owns 23,065 shares of the company's stock, valued at approximately $3,132,227. The disclosure for this sale can be found here. Over the last quarter, 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.