$2.26 Billion in Sales Expected for Westinghouse Air Brake Technologies Corp (WAB) This Quarter

Analysts expect that Westinghouse Air Brake Technologies Corp (NYSE:WAB) will post sales of $2.26 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Westinghouse Air Brake Technologies’ earnings, with estimates ranging from $2.19 billion to $2.34 billion. Westinghouse Air Brake Technologies reported sales of $1.11 billion during the same quarter last year, which would indicate a positive year over year growth rate of 103.6%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, July 23rd.

On average, analysts expect that Westinghouse Air Brake Technologies will report full-year sales of $8.45 billion for the current year, with estimates ranging from $8.36 billion to $8.54 billion. For the next fiscal year, analysts forecast that the company will post sales of $9.54 billion, with estimates ranging from $9.20 billion to $9.79 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Westinghouse Air Brake Technologies.

Westinghouse Air Brake Technologies (NYSE:WAB) last issued its quarterly earnings results on Thursday, April 25th. The transportation company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.26. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.46 billion. Westinghouse Air Brake Technologies had a return on equity of 9.11% and a net margin of 4.12%. The business’s quarterly revenue was up 50.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share.

WAB has been the topic of a number of recent analyst reports. ValuEngine raised Westinghouse Air Brake Technologies from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Buckingham Research reduced their price target on Westinghouse Air Brake Technologies from $94.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Zacks Investment Research downgraded Westinghouse Air Brake Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, January 26th. Seaport Global Securities reaffirmed a “buy” rating on shares of Westinghouse Air Brake Technologies in a research report on Monday, January 28th. Finally, Jefferies Financial Group initiated coverage on Westinghouse Air Brake Technologies in a research report on Friday, February 22nd. They set a “hold” rating and a $80.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Westinghouse Air Brake Technologies has a consensus rating of “Buy” and an average target price of $94.10.

Shares of WAB stock traded down $1.52 during trading hours on Friday, reaching $64.38. 1,916,500 shares of the company’s stock were exchanged, compared to its average volume of 2,285,291. The company has a market cap of $6.37 billion, a PE ratio of 16.90, a PEG ratio of 1.26 and a beta of 1.29. The company has a current ratio of 1.35, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. Westinghouse Air Brake Technologies has a fifty-two week low of $64.10 and a fifty-two week high of $115.40.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, May 9th. Westinghouse Air Brake Technologies’s payout ratio is currently 12.60%.

In other news, Director Linda S. Harty sold 3,000 shares of the stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $75.68, for a total transaction of $227,040.00. Following the sale, the director now directly owns 6,054 shares of the company’s stock, valued at approximately $458,166.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.56% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in Westinghouse Air Brake Technologies by 43.8% in the 4th quarter. Rhumbline Advisers now owns 224,625 shares of the transportation company’s stock valued at $15,780,000 after acquiring an additional 68,390 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Westinghouse Air Brake Technologies by 32.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 407,310 shares of the transportation company’s stock valued at $28,611,000 after acquiring an additional 100,900 shares during the last quarter. Piedmont Investment Advisors Inc. raised its holdings in Westinghouse Air Brake Technologies by 100.2% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 4,526 shares of the transportation company’s stock valued at $318,000 after acquiring an additional 2,265 shares during the last quarter. Berman Capital Advisors LLC acquired a new stake in Westinghouse Air Brake Technologies in the 4th quarter valued at about $127,000. Finally, PRW Wealth Management LLC acquired a new stake in Westinghouse Air Brake Technologies in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Westinghouse Air Brake Technologies Company Profile

Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. The company's Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new switcher locomotives; rebuilds freight locomotives; supplies railway electronics, positive train control equipment, signal design, and engineering services; and provides related heat exchange and cooling systems.

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

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