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

Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $7.45-7.65 for the period, compared to the consensus estimate of $7.49. The company issued revenue guidance of $10.25-10.55 billion, compared to the consensus revenue estimate of $10.43 billion. Westinghouse Air Brake Technologies also updated its FY 2024 guidance to 7.450-7.650 EPS.

Westinghouse Air Brake Technologies Stock Down 1.2 %

Shares of WAB traded down $2.37 during mid-day trading on Wednesday, reaching $187.34. The company's stock had a trading volume of 1,910,090 shares, compared to its average volume of 1,087,389. The company has a market cap of $33.04 billion, a price-to-earnings ratio of 36.51, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The business has a fifty day moving average of $174.11 and a 200 day moving average of $165.22. The company has a quick ratio of 0.73, a current ratio of 1.38 and a debt-to-equity ratio of 0.33. Westinghouse Air Brake Technologies has a 1 year low of $98.96 and a 1 year high of $192.48.

Westinghouse Air Brake Technologies (NYSE:WAB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.88 by $0.08. Westinghouse Air Brake Technologies had a net margin of 9.94% and a return on equity of 12.05%. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.64 billion. During the same period last year, the company posted $1.41 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts forecast that Westinghouse Air Brake Technologies will post 7.46 earnings per share for the current fiscal year.

Westinghouse Air Brake Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Wednesday, November 13th. Westinghouse Air Brake Technologies's payout ratio is presently 15.63%.

Analyst Upgrades and Downgrades

WAB has been the topic of several analyst reports. Susquehanna increased their price target on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the stock a "positive" rating in a research note on Monday. Bank of America raised their target price on Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the company a "buy" rating in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $166.90.

Insider Activity

In other Westinghouse Air Brake Technologies news, CTO Eric Gebhardt sold 7,422 shares of the firm's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $156.32, for a total value of $1,160,207.04. Following the sale, the chief technology officer now directly owns 22,411 shares in the company, valued at $3,503,287.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Brian Hehir sold 1,000 shares of the company's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $161.62, for a total value of $161,620.00. Following the completion of the transaction, the director now directly owns 23,230 shares in the company, valued at approximately $3,754,432.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Eric Gebhardt sold 7,422 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $156.32, for a total value of $1,160,207.04. Following the completion of the transaction, the chief technology officer now directly owns 22,411 shares of the company's stock, valued at approximately $3,503,287.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,392 shares of company stock valued at $2,754,390. 1.10% of the stock is owned by company insiders.

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.