Zacks Research Has Positive Forecast for WAB FY2024 Earnings

Westinghouse Air Brake Technologies Co. (NYSE:WAB) – Equities research analysts at Zacks Research raised their FY2024 earnings estimates for shares of Westinghouse Air Brake Technologies in a report issued on Monday, November 11th. Zacks Research analyst M. Basu now expects that the transportation company will post earnings per share of $7.60 for the year, up from their prior estimate of $7.48. The consensus estimate for Westinghouse Air Brake Technologies’ current full-year earnings is $7.58 per share. Zacks Research also issued estimates for Westinghouse Air Brake Technologies’ Q4 2024 earnings at $1.75 EPS, Q1 2025 earnings at $1.79 EPS, Q2 2025 earnings at $1.91 EPS, Q3 2025 earnings at $2.22 EPS, FY2025 earnings at $8.33 EPS, Q2 2026 earnings at $2.35 EPS and FY2026 earnings at $9.30 EPS.

WAB has been the topic of several other research reports. Bank of America upped their target price on shares of Westinghouse Air Brake Technologies from $183.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Stephens upped 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. The Goldman Sachs Group boosted their target price on Westinghouse Air Brake Technologies from $181.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Susquehanna raised their price target on Westinghouse Air Brake Technologies from $190.00 to $220.00 and gave the company a “positive” rating in a report on Monday, October 21st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $171.80.

Westinghouse Air Brake Technologies Stock Performance

Shares of NYSE:WAB opened at $199.28 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.65. The business’s fifty day moving average price is $182.90 and its two-hundred day moving average price is $169.76. Westinghouse Air Brake Technologies has a fifty-two week low of $111.93 and a fifty-two week high of $202.84. The stock has a market capitalization of $34.25 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 1.56 and a beta of 1.27.

Westinghouse Air Brake Technologies (NYSE:WAB) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.13. Westinghouse Air Brake Technologies had a net margin of 10.25% and a return on equity of 12.52%. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter last year, the company earned $1.70 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year.

Westinghouse Air Brake Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Wednesday, November 13th. Westinghouse Air Brake Technologies’s dividend payout ratio is 13.33%.

Insider Buying and Selling

In other news, VP David L. Deninno sold 875 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $188.70, for a total value of $165,112.50. Following the transaction, the vice president now owns 55,352 shares of the company’s stock, valued at approximately $10,444,922.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Westinghouse Air Brake Technologies news, CAO John A. Mastalerz, Jr. sold 2,796 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $199.71, for a total value of $558,389.16. Following the transaction, the chief accounting officer now owns 5,683 shares of the company’s stock, valued at approximately $1,134,951.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David L. Deninno sold 875 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $188.70, for a total value of $165,112.50. Following the transaction, the vice president now owns 55,352 shares of the company’s stock, valued at $10,444,922.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,562 shares of company stock worth $10,040,379 over the last three months. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WAB. Pinnacle Bancorp Inc. raised its holdings in Westinghouse Air Brake Technologies by 55.0% in the third quarter. Pinnacle Bancorp Inc. now owns 155 shares of the transportation company’s stock worth $28,000 after purchasing an additional 55 shares during the period. Eastern Bank acquired a new stake in Westinghouse Air Brake Technologies during the 3rd quarter worth $33,000. Massmutual Trust Co. FSB ADV lifted its holdings in Westinghouse Air Brake Technologies by 26.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 568 shares of the transportation company’s stock worth $90,000 after acquiring an additional 118 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in Westinghouse Air Brake Technologies in the first quarter valued at about $204,000. Finally, Camden National Bank bought a new stake in shares of Westinghouse Air Brake Technologies in the third quarter worth about $222,000. Institutional investors own 91.69% of the company’s stock.

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.