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

Westinghouse Air Brake Technologies (NYSE:WAB) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $7.00-$7.40 for the period, compared to the consensus EPS 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.

Westinghouse Air Brake Technologies Stock Performance

Shares of WAB traded up $14.90 during mid-day trading on Wednesday, hitting $163.38. 3,725,337 shares of the company traded hands, compared to its average volume of 1,049,914. Westinghouse Air Brake Technologies has a 1 year low of $91.89 and a 1 year high of $167.49. The stock has a market cap of $28.89 billion, a price-to-earnings ratio of 36.15, a P/E/G ratio of 1.68 and a beta of 1.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.63 and a current ratio of 1.20. The stock has a 50-day moving average price of $142.63 and a two-hundred day moving average price of $127.64.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its earnings results on Wednesday, February 14th. The transportation company reported $1.54 EPS for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the company posted $1.30 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts anticipate that Westinghouse Air Brake Technologies will post 6.73 earnings per share for the current year.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.20 per share. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Thursday, February 22nd. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 17.70%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley started coverage on shares of Westinghouse Air Brake Technologies in a report on Monday, January 8th. They set an overweight rating and a $137.00 target price for the company. KeyCorp upped their target price on shares of Westinghouse Air Brake Technologies from $133.00 to $155.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. Wells Fargo & Company upped their target price on shares of Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the stock an overweight rating in a research report on Thursday, February 15th. The Goldman Sachs Group upped their target price 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, April 16th. Finally, Redburn Atlantic lowered shares of Westinghouse Air Brake Technologies from a buy rating to a neutral rating and set a $135.00 target price for the company. in a research report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $146.91.

Insider Activity at Westinghouse Air Brake Technologies

In related news, CEO Rafael Santana sold 40,219 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Rafael Santana sold 40,219 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $140.62, for a total value of $5,655,595.78. Following the sale, the chief executive officer now owns 123,019 shares of the company’s stock, valued at $17,298,931.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nicole B. Theophilus sold 2,668 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 24,792 shares in the company, valued at approximately $3,482,284.32. The disclosure for this sale can be found here. Insiders have sold a total of 63,964 shares of company stock valued at $8,924,584 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

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.