Westinghouse Air Brake Technologies (NYSE:WAB) Shares Gap Down After Earnings Miss

Shares of Westinghouse Air Brake Technologies Co. (NYSE:WAB) gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $208.12, but opened at $192.00. Westinghouse Air Brake Technologies shares last traded at $186.55, with a volume of 669,694 shares trading hands.

The transportation company reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.06). Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%.

Westinghouse Air Brake Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. This is a boost from Westinghouse Air Brake Technologies’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, February 21st. Westinghouse Air Brake Technologies’s dividend payout ratio is 16.67%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WAB shares. Susquehanna raised their target price on shares of Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a report on Monday, October 21st. Stephens lifted their price objective on shares of Westinghouse Air Brake Technologies from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. KeyCorp upped their target price on shares of Westinghouse Air Brake Technologies from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Bank of America lifted their price target on Westinghouse Air Brake Technologies from $225.00 to $226.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group upped their price objective on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $188.50.

Institutional Trading of Westinghouse Air Brake Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of WAB. Eastern Bank bought a new stake in shares of Westinghouse Air Brake Technologies during the third quarter valued at approximately $33,000. Garde Capital Inc. bought a new stake in Westinghouse Air Brake Technologies during the 3rd quarter valued at $110,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Westinghouse Air Brake Technologies in the 4th quarter worth $204,000. Camden National Bank bought a new position in shares of Westinghouse Air Brake Technologies during the 3rd quarter worth $222,000. Finally, Longboard Asset Management LP bought a new position in shares of Westinghouse Air Brake Technologies during the 4th quarter worth $252,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Westinghouse Air Brake Technologies Stock Performance

The firm has a 50 day moving average price of $199.13 and a 200 day moving average price of $186.01. The stock has a market cap of $32.53 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

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.