Westinghouse Air Brake Technologies (NYSE:WAB) Posts Quarterly Earnings Results, Beats Expectations By $0.40 EPS

Westinghouse Air Brake Technologies (NYSE:WAB) posted its quarterly earnings results on Wednesday. The transportation company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40, Briefing.com reports. Westinghouse Air Brake Technologies had a return on equity of 11.25% and a net margin of 9.20%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. Westinghouse Air Brake Technologies’s revenue for the quarter was up 13.9% compared to the same quarter last year. Westinghouse Air Brake Technologies updated its FY24 guidance to $7.00-$7.40 EPS and its FY 2024 guidance to 7.000-7.400 EPS.

Westinghouse Air Brake Technologies Stock Performance

Shares of Westinghouse Air Brake Technologies stock traded up $0.34 during trading hours on Friday, reaching $163.52. The company had a trading volume of 398,865 shares, compared to its average volume of 1,052,099. The firm has a market cap of $28.91 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.40. 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 0.38, a current ratio of 1.52 and a quick ratio of 0.63. The business has a fifty day simple moving average of $143.19 and a 200 day simple moving average of $127.89.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, February 22nd. Westinghouse Air Brake Technologies’s payout ratio is currently 15.63%.

Insider Buying and Selling

In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 2,668 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $140.46, for a total value of $374,747.28. Following the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Rafael Santana sold 40,219 shares of the business’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 value of $5,655,595.78. Following the completion of the sale, the chief executive officer now directly owns 123,019 shares in the company, valued at approximately $17,298,931.78. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Nicole B. Theophilus sold 2,668 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $140.46, for a total value of $374,747.28. Following the transaction, the executive vice president now directly owns 24,792 shares in the company, valued at $3,482,284.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,964 shares of company stock valued at $8,924,584. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Redburn Atlantic lowered shares of Westinghouse Air Brake Technologies from a “buy” rating to a “neutral” rating and set a $135.00 price target on the stock. in a report on Thursday, February 15th. TD Cowen upped their price objective on shares of Westinghouse Air Brake Technologies from $130.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday. Morgan Stanley initiated coverage on Westinghouse Air Brake Technologies in a report on Monday, January 8th. They set an “overweight” rating and a $137.00 price target on the stock. KeyCorp upped their price target on Westinghouse Air Brake Technologies from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Susquehanna lifted their price objective on shares of Westinghouse Air Brake Technologies from $160.00 to $190.00 and gave the company a “positive” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.18.

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.