Equities research analysts forecast that Westinghouse Air Brake Technologies Corp (NYSE:WAB) will post sales of $2.19 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Westinghouse Air Brake Technologies’ earnings. The highest sales estimate is $2.26 billion and the lowest is $2.09 billion. Westinghouse Air Brake Technologies reported sales of $1.12 billion in the same quarter last year, which indicates a positive year over year growth rate of 95.5%. The business is expected to report its next quarterly earnings report on Monday, February 24th.
According to Zacks, analysts expect that Westinghouse Air Brake Technologies will report full-year sales of $8.00 billion for the current financial year, with estimates ranging from $7.92 billion to $8.05 billion. For the next financial year, analysts anticipate that the business will post sales of $8.72 billion, with estimates ranging from $8.08 billion to $9.04 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Westinghouse Air Brake Technologies.
Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Thursday, October 31st. The transportation company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.02. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.17 billion. Westinghouse Air Brake Technologies had a return on equity of 7.89% and a net margin of 3.24%. The company’s quarterly revenue was up 85.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 earnings per share.
Several equities research analysts have recently commented on the company. Morgan Stanley set a $71.00 price objective on Westinghouse Air Brake Technologies and gave the company a “hold” rating in a report on Friday, November 1st. Atlantic Securities assumed coverage on Westinghouse Air Brake Technologies in a report on Friday, November 15th. They set an “overweight” rating and a $92.00 price objective for the company. ValuEngine upgraded Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Zacks Investment Research downgraded Westinghouse Air Brake Technologies from a “hold” rating to a “sell” rating and set a $70.00 price objective for the company. in a report on Monday, October 14th. Finally, Buckingham Research decreased their price objective on Westinghouse Air Brake Technologies from $83.00 to $76.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $82.08.
In related news, Director Michael W. D. Howell sold 717 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $79.30, for a total transaction of $56,858.10. Following the transaction, the director now owns 7,180 shares of the company’s stock, valued at $569,374. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.56% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its position in shares of Westinghouse Air Brake Technologies by 47.5% during the second quarter. Captrust Financial Advisors now owns 950 shares of the transportation company’s stock valued at $68,000 after buying an additional 306 shares during the last quarter. Coastal Capital Group Inc. purchased a new position in shares of Westinghouse Air Brake Technologies during the second quarter valued at approximately $25,000. Thompson Investment Management Inc. boosted its position in Westinghouse Air Brake Technologies by 1.0% in the third quarter. Thompson Investment Management Inc. now owns 59,080 shares of the transportation company’s stock worth $4,245,000 after purchasing an additional 573 shares during the last quarter. Stonebridge Capital Advisors LLC purchased a new position in Westinghouse Air Brake Technologies in the second quarter worth $49,000. Finally, Massey Quick Simon & CO. LLC boosted its position in Westinghouse Air Brake Technologies by 55,450.0% in the third quarter. Massey Quick Simon & CO. LLC now owns 1,111 shares of the transportation company’s stock worth $80,000 after purchasing an additional 1,109 shares during the last quarter. 99.02% of the stock is currently owned by institutional investors.
Shares of NYSE WAB traded up $0.24 during midday trading on Monday, hitting $75.14. 4,242,764 shares of the stock traded hands, compared to its average volume of 1,931,842. The company has a market cap of $14.38 billion, a PE ratio of 19.72, a P/E/G ratio of 1.64 and a beta of 1.46. Westinghouse Air Brake Technologies has a one year low of $61.00 and a one year high of $81.75. The business has a 50 day moving average price of $76.42 and a two-hundred day moving average price of $71.32. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.77 and a current ratio of 1.38.
The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. Westinghouse Air Brake Technologies’s payout ratio is 12.60%.
About Westinghouse Air Brake Technologies
Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. The company's Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new switcher locomotives; rebuilds freight locomotives; supplies railway electronics, positive train control equipment, signal design, and engineering services; and provides related heat exchange and cooling systems.
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