Westinghouse Air Brake Technologies (WAB) Set to Announce Earnings on Wednesday

Westinghouse Air Brake Technologies (NYSE:WAB) will issue its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $1.48 per share for the quarter. Westinghouse Air Brake Technologies has set its FY24 guidance at $6.50-6.90 EPS and its FY 2024 guidance at 6.500-6.900 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Westinghouse Air Brake Technologies (NYSE:WAB) last released its earnings results on Wednesday, February 14th. The transportation company reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.04). The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.48 billion. Westinghouse Air Brake Technologies had a net margin of 8.42% and a return on equity of 10.34%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 earnings per share. On average, analysts expect Westinghouse Air Brake Technologies to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Westinghouse Air Brake Technologies Stock Performance

WAB stock opened at $144.17 on Monday. The firm has a market cap of $25.49 billion, a PE ratio of 31.90, a P/E/G ratio of 1.66 and a beta of 1.40. The company has a quick ratio of 0.63, a current ratio of 1.20 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $142.21 and a 200-day moving average of $127.01. Westinghouse Air Brake Technologies has a 12-month low of $91.89 and a 12-month high of $151.00.

Westinghouse Air Brake Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were issued a $0.20 dividend. The ex-dividend date was Thursday, February 22nd. This is a positive change from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a dividend yield of 0.55%. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 17.70%.

Insider Transactions at Westinghouse Air Brake Technologies

In related news, EVP Nicole B. Theophilus sold 2,668 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $140.46, for a total value of $374,747.28. Following the sale, the executive vice president now owns 24,792 shares in the company, valued at $3,482,284.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Westinghouse Air Brake Technologies news, EVP Nicole B. Theophilus sold 2,668 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $140.46, for a total transaction of $374,747.28. Following the sale, the executive vice president now owns 24,792 shares in the company, valued at $3,482,284.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rafael Santana sold 40,219 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $17,298,931.78. The disclosure for this sale can be found here. Insiders sold 63,964 shares of company stock valued at $8,924,584 over the last three months. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WAB. Cibc World Markets Corp purchased a new position in shares of Westinghouse Air Brake Technologies during the 1st quarter worth approximately $1,092,000. Eudaimonia Partners LLC purchased a new position in shares of Westinghouse Air Brake Technologies during the 1st quarter worth approximately $366,000. Neuberger Berman Group LLC grew its holdings in shares of Westinghouse Air Brake Technologies by 2,233.1% during the 1st quarter. Neuberger Berman Group LLC now owns 245,277 shares of the transportation company’s stock worth $23,589,000 after acquiring an additional 234,764 shares during the period. Coppell Advisory Solutions Corp. purchased a new position in shares of Westinghouse Air Brake Technologies during the 4th quarter worth approximately $30,000. Finally, State of Tennessee Treasury Department grew its holdings in shares of Westinghouse Air Brake Technologies by 13.8% during the 1st quarter. State of Tennessee Treasury Department now owns 115,233 shares of the transportation company’s stock worth $11,645,000 after acquiring an additional 13,949 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Analyst Upgrades and Downgrades

WAB has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on Westinghouse Air Brake Technologies from $138.00 to $152.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. TD Cowen increased their price objective on Westinghouse Air Brake Technologies from $125.00 to $130.00 and gave the company a “market perform” rating in a report on Thursday, February 15th. Stephens increased their price objective on Westinghouse Air Brake Technologies from $153.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Wells Fargo & Company increased their price objective on Westinghouse Air Brake Technologies from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. Finally, Susquehanna increased their price objective on Westinghouse Air Brake Technologies from $150.00 to $160.00 and gave the company a “positive” rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $146.91.

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.