Westinghouse Air Brake Technologies (WAB) Issues Earnings Results

Westinghouse Air Brake Technologies (NYSE:WAB) released its quarterly earnings results on Tuesday. The transportation company reported $0.95 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.95, Briefing.com reports. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1 billion. Westinghouse Air Brake Technologies had a net margin of 6.88% and a return on equity of 12.40%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. Westinghouse Air Brake Technologies updated its FY18 guidance to $3.85 EPS and its FY 2018 guidance to $3.85-3.85 EPS.

Shares of WAB stock traded down $2.91 during trading hours on Wednesday, reaching $82.69. 80,565 shares of the company were exchanged, compared to its average volume of 785,303. Westinghouse Air Brake Technologies has a fifty-two week low of $69.75 and a fifty-two week high of $115.40. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.01 and a beta of 0.93. The company has a current ratio of 1.52, a quick ratio of 0.99 and a debt-to-equity ratio of 0.65.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.58%. Westinghouse Air Brake Technologies’s payout ratio is 13.99%.

A number of equities analysts have commented on WAB shares. Wells Fargo & Co set a $105.00 price target on shares of Westinghouse Air Brake Technologies and gave the company a “buy” rating in a research report on Wednesday. Cowen restated a “buy” rating and issued a $125.00 price target on shares of Westinghouse Air Brake Technologies in a research report on Tuesday, July 24th. Stifel Nicolaus boosted their price target on shares of Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Tuesday, September 25th. Finally, William Blair restated a “buy” rating on shares of Westinghouse Air Brake Technologies in a research report on Monday, September 17th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $107.64.

In other news, Director Robert J. Brooks sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $110.56, for a total transaction of $2,211,200.00. Following the transaction, the director now directly owns 19,200 shares in the company, valued at $2,122,752. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William E. Kassling sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $109.27, for a total transaction of $874,160.00. Following the transaction, the director now owns 81,444 shares in the company, valued at $8,899,385.88. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $5,562,320 over the last quarter. 11.49% of the stock is owned by company insiders.

Westinghouse Air Brake Technologies Company Profile

Westinghouse Air Brake Technologies Corporation, doing business as Wabtec Corporation, provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates in two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing locomotive and freight cars; supplies railway electronics and positive train control equipment; offers signal design and engineering services; builds switcher locomotives; rebuilds freight locomotives; and provides heat exchangers and cooling systems for rail and other industrial markets.

Further Reading: Asset Allocation, Balancing Your Investments

Earnings History for Westinghouse Air Brake Technologies (NYSE:WAB)

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