Westinghouse Air Brake Technologies (WAB) Scheduled to Post Quarterly Earnings on Wednesday

Westinghouse Air Brake Technologies (NYSE:WAB) will be posting its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect Westinghouse Air Brake Technologies to post earnings of $1.48 per share for the quarter. Westinghouse Air Brake Technologies has set its FY24 guidance at $6.50-6.90 EPS and its FY 2024 guidance at 6.500-6.900 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share 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 analyst estimates of $2.48 billion. Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 EPS. On average, analysts expect Westinghouse Air Brake Technologies to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Westinghouse Air Brake Technologies Stock Performance

Shares of Westinghouse Air Brake Technologies stock opened at $145.47 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 firm has a market cap of $25.72 billion, a P/E ratio of 32.18, a P/E/G ratio of 1.68 and a beta of 1.40. The firm has a 50 day simple moving average of $141.75 and a 200 day simple moving average of $126.18. Westinghouse Air Brake Technologies has a fifty-two week low of $91.89 and a fifty-two week high of $151.00.

Westinghouse Air Brake Technologies Increases Dividend

The business 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. 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 0.55%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 17.70%.

Insider Buying and Selling at Westinghouse Air Brake Technologies

In other news, CEO Rafael Santana sold 40,219 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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 of the company’s stock, valued at approximately $17,298,931.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Nicole B. Theophilus sold 2,668 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $140.46, for a total transaction of $374,747.28. Following the completion of the transaction, the executive vice president now directly owns 24,792 shares in the company, valued at approximately $3,482,284.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Rafael Santana sold 40,219 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock valued at $8,924,584 in the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Westinghouse Air Brake Technologies

A number of institutional investors have recently modified their holdings of WAB. Neuberger Berman Group LLC lifted its stake in shares of Westinghouse Air Brake Technologies by 2,233.1% in the first quarter. Neuberger Berman Group LLC now owns 245,277 shares of the transportation company’s stock valued at $23,589,000 after buying an additional 234,764 shares in the last quarter. State of Tennessee Treasury Department increased its stake in shares of Westinghouse Air Brake Technologies by 13.8% in the first quarter. State of Tennessee Treasury Department now owns 115,233 shares of the transportation company’s stock worth $11,645,000 after purchasing an additional 13,949 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Westinghouse Air Brake Technologies in the first quarter worth about $1,092,000. Eudaimonia Partners LLC purchased a new position in shares of Westinghouse Air Brake Technologies in the first quarter worth about $366,000. Finally, Quantitative Investment Management LLC purchased a new position in shares of Westinghouse Air Brake Technologies in the second quarter worth about $314,000. 91.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WAB has been the topic of a number of recent research reports. Bank of America raised their price objective on shares of Westinghouse Air Brake Technologies from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Monday. Redburn Atlantic cut shares of 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. Wells Fargo & Company raised their price objective on shares of 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. Susquehanna lifted their price target on shares of Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the stock a “positive” rating in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group lifted their price target on shares of Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.91.

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.