Westinghouse Air Brake Technologies Co. (NYSE:WAB) to Post FY2023 Earnings of $5.34 Per Share, KeyCorp Forecasts

Westinghouse Air Brake Technologies Co. (NYSE:WAB – Get Rating) – Research analysts at KeyCorp increased their FY2023 earnings per share estimates for Westinghouse Air Brake Technologies in a report issued on Wednesday, March 8th. KeyCorp analyst S. Barger now anticipates that the transportation company will post earnings per share of $5.34 for the year, up from their previous forecast of $5.30. KeyCorp has a “Overweight” rating and a $112.00 price target on the stock. The consensus estimate for Westinghouse Air Brake Technologies’ current full-year earnings is $5.38 per share. KeyCorp also issued estimates for Westinghouse Air Brake Technologies’ Q4 2023 earnings at $1.48 EPS and FY2024 earnings at $5.93 EPS.

Westinghouse Air Brake Technologies (NYSE:WAB – Get Rating) last announced its earnings results on Wednesday, February 15th. The transportation company reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. Westinghouse Air Brake Technologies had a return on equity of 8.88% and a net margin of 7.57%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter last year, the business posted $1.18 earnings per share. The company’s quarterly revenue was up 11.2% on a year-over-year basis.

Other research analysts have also issued research reports about the company. Raymond James increased their price objective on Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, February 16th. Morgan Stanley raised their target price on Westinghouse Air Brake Technologies from $106.00 to $107.00 and gave the company an “equal weight” rating in a report on Tuesday, February 21st. Bank of America upgraded Westinghouse Air Brake Technologies from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 17th. Stephens raised their price objective on Westinghouse Air Brake Technologies from $110.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, February 16th. Finally, Citigroup raised their target price on Westinghouse Air Brake Technologies from $95.00 to $114.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Westinghouse Air Brake Technologies currently has an average rating of “Moderate Buy” and an average target price of $111.83.

Westinghouse Air Brake Technologies Stock Down 2.7 %

Shares of Westinghouse Air Brake Technologies stock opened at $99.96 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.66 and a debt-to-equity ratio of 0.37. Westinghouse Air Brake Technologies has a 1 year low of $78.26 and a 1 year high of $107.86. The stock has a 50-day moving average price of $103.58 and a 200 day moving average price of $96.78. The company has a market cap of $18.03 billion, a P/E ratio of 28.97, a P/E/G ratio of 1.71 and a beta of 1.48.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Friday, February 24th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, February 23rd. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.68%. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 19.71%.

Insiders Place Their Bets

In other news, insider Michael Fetsko sold 7,676 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $104.63, for a total value of $803,139.88. Following the completion of the transaction, the insider now directly owns 32,244 shares in the company, valued at approximately $3,373,689.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Westinghouse Air Brake Technologies news, insider Michael Fetsko sold 7,676 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $104.63, for a total transaction of $803,139.88. Following the transaction, the insider now owns 32,244 shares of the company’s stock, valued at approximately $3,373,689.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rafael Santana sold 78,277 shares of Westinghouse Air Brake Technologies stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $104.78, for a total transaction of $8,201,864.06. Following the transaction, the chief executive officer now directly owns 72,577 shares in the company, valued at approximately $7,604,618.06. The disclosure for this sale can be found here. Insiders sold 88,834 shares of company stock worth $9,306,731 over the last three months. Insiders own 1.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WAB. Gibson Wealth Advisors LLC grew its stake in Westinghouse Air Brake Technologies by 6,350.0% in the 4th quarter. Gibson Wealth Advisors LLC now owns 258 shares of the transportation company’s stock valued at $25,000 after buying an additional 254 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new position in Westinghouse Air Brake Technologies in the fourth quarter worth $30,000. Everence Capital Management Inc. purchased a new position in Westinghouse Air Brake Technologies in the third quarter worth $253,000. Eudaimonia Partners LLC purchased a new position in Westinghouse Air Brake Technologies in the first quarter worth $366,000. Finally, Moody National Bank Trust Division grew its position in Westinghouse Air Brake Technologies by 3.5% in the third quarter. Moody National Bank Trust Division now owns 5,666 shares of the transportation company’s stock worth $461,000 after acquiring an additional 189 shares in the last quarter. 89.47% of the stock is currently owned by hedge funds and other institutional investors.

About Westinghouse Air Brake Technologies

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Westinghouse Air Brake Technologies Corp. engages in the provision of equipment, systems, and value-added services for the rail industry. It operates through the Freight and Transit segments. The Freight segment builds new locomotives, manufactures and services components for new and existing freight cars and locomotives, rebuilds freight locomotives, supplies railway electronics, positive train control equipment, and signal design and engineering services, and provides related heat exchange and cooling systems.