Wall Street brokerages expect that Westinghouse Air Brake Technologies Corp (NYSE:WAB) will post $2.22 billion in sales for the current quarter, according to Zacks. Four analysts have made estimates for Westinghouse Air Brake Technologies’ earnings. The lowest sales estimate is $2.14 billion and the highest is $2.26 billion. Westinghouse Air Brake Technologies reported sales of $1.08 billion during the same quarter last year, which indicates a positive year over year growth rate of 105.6%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that Westinghouse Air Brake Technologies will report full year sales of $8.43 billion for the current financial year, with estimates ranging from $8.41 billion to $8.45 billion. For the next fiscal year, analysts expect that the firm will report sales of $9.53 billion, with estimates ranging from $9.20 billion to $9.79 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Westinghouse Air Brake Technologies.
Westinghouse Air Brake Technologies (NYSE:WAB) last issued its earnings results on Tuesday, July 30th. The transportation company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.08. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.24 billion. Westinghouse Air Brake Technologies had a return on equity of 9.11% and a net margin of 4.12%. The firm’s quarterly revenue was up 101.2% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS.
NYSE:WAB traded down $1.72 during trading hours on Thursday, reaching $75.96. The stock had a trading volume of 1,479,311 shares, compared to its average volume of 2,040,308. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.35 and a quick ratio of 0.75. Westinghouse Air Brake Technologies has a 52 week low of $61.95 and a 52 week high of $115.40. The company’s 50 day moving average price is $71.53. The company has a market capitalization of $12.56 billion, a PE ratio of 19.94, a PEG ratio of 1.37 and a beta of 1.40.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Thursday, August 8th. Westinghouse Air Brake Technologies’s dividend payout ratio is currently 12.60%.
In related news, Director Albert J. Neupaver bought 10,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were purchased at an average price of $65.26 per share, with a total value of $652,600.00. Following the transaction, the director now owns 668,418 shares in the company, valued at approximately $43,620,958.68. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP David L. Deninno bought 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were bought at an average cost of $64.51 per share, for a total transaction of $193,530.00. Following the transaction, the vice president now owns 87,066 shares in the company, valued at approximately $5,616,627.66. The disclosure for this purchase can be found here. In the last three months, insiders have bought 21,000 shares of company stock worth $1,349,650. Corporate insiders own 6.56% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WAB. Coastal Capital Group Inc. bought a new position in shares of Westinghouse Air Brake Technologies during the 2nd quarter valued at approximately $25,000. YorkBridge Wealth Partners LLC increased its position in shares of Westinghouse Air Brake Technologies by 72.4% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 393 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 165 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in shares of Westinghouse Air Brake Technologies during the 1st quarter valued at approximately $34,000. RPG Investment Advisory LLC increased its position in shares of Westinghouse Air Brake Technologies by 545.0% during the 1st quarter. RPG Investment Advisory LLC now owns 645 shares of the transportation company’s stock valued at $48,000 after purchasing an additional 545 shares during the last quarter. Finally, Iat Reinsurance Co. LTD. bought a new position in shares of Westinghouse Air Brake Technologies during the 1st quarter valued at approximately $48,000. 92.53% of the stock is currently owned by hedge funds and other institutional investors.
About Westinghouse Air Brake Technologies
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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