Westinghouse Air Brake Technologies Corporation (WAB) Expected to Post Quarterly Sales of $1.00 Billion

Equities research analysts predict that Westinghouse Air Brake Technologies Corporation (NYSE:WAB) will post sales of $1.00 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Westinghouse Air Brake Technologies’ earnings. The lowest sales estimate is $968.90 million and the highest is $1.04 billion. Westinghouse Air Brake Technologies posted sales of $759.98 million during the same quarter last year, which would indicate a positive year over year growth rate of 31.6%. The firm is expected to report its next quarterly earnings report on Tuesday, February 20th.

On average, analysts expect that Westinghouse Air Brake Technologies will report full year sales of $1.00 billion for the current fiscal year, with estimates ranging from $3.78 billion to $3.84 billion. For the next year, analysts forecast that the business will report sales of $4.00 billion per share, with estimates ranging from $3.97 billion to $4.03 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Westinghouse Air Brake Technologies.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Tuesday, October 24th. The transportation company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. Westinghouse Air Brake Technologies had a net margin of 7.04% and a return on equity of 11.85%. The company had revenue of $957.93 million during the quarter, compared to analyst estimates of $947.18 million. During the same period last year, the firm posted $0.94 EPS. Westinghouse Air Brake Technologies’s revenue for the quarter was up 41.8% compared to the same quarter last year.

WAB has been the subject of a number of recent research reports. Berenberg Bank began coverage on shares of Westinghouse Air Brake Technologies in a research report on Thursday, September 7th. They set a “hold” rating and a $81.00 price target for the company. KeyCorp reaffirmed a “buy” rating and set a $100.00 price objective on shares of Westinghouse Air Brake Technologies in a research note on Sunday, September 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $75.00 price objective (up previously from $74.00) on shares of Westinghouse Air Brake Technologies in a research note on Wednesday, October 25th. Zacks Investment Research cut shares of Westinghouse Air Brake Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Finally, FBR & Co set a $85.00 price objective on shares of Westinghouse Air Brake Technologies and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Westinghouse Air Brake Technologies has a consensus rating of “Hold” and an average price target of $88.00.

In related news, VP David L. Deninno sold 1,917 shares of Westinghouse Air Brake Technologies stock in a transaction on Monday, October 30th. The shares were sold at an average price of $76.10, for a total value of $145,883.70. Following the sale, the vice president now owns 56,131 shares of the company’s stock, valued at approximately $4,271,569.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Brooks sold 3,500 shares of Westinghouse Air Brake Technologies stock in a transaction on Monday, November 6th. The shares were sold at an average price of $77.66, for a total transaction of $271,810.00. Following the completion of the sale, the director now directly owns 84,221 shares in the company, valued at approximately $6,540,602.86. The disclosure for this sale can be found here. 11.69% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in WAB. IFP Advisors Inc grew its stake in Westinghouse Air Brake Technologies by 15.2% in the 2nd quarter. IFP Advisors Inc now owns 1,913 shares of the transportation company’s stock valued at $175,000 after acquiring an additional 252 shares during the period. Fieldpoint Private Securities LLC grew its stake in Westinghouse Air Brake Technologies by 49.4% in the 3rd quarter. Fieldpoint Private Securities LLC now owns 2,390 shares of the transportation company’s stock valued at $181,000 after acquiring an additional 790 shares during the period. Tredje AP fonden grew its stake in Westinghouse Air Brake Technologies by 15.7% in the 2nd quarter. Tredje AP fonden now owns 2,720 shares of the transportation company’s stock valued at $249,000 after acquiring an additional 370 shares during the period. Pacer Advisors Inc. grew its stake in Westinghouse Air Brake Technologies by 873.0% in the 3rd quarter. Pacer Advisors Inc. now owns 15,860 shares of the transportation company’s stock valued at $1,201,000 after acquiring an additional 14,230 shares during the period. Finally, Kingfisher Capital LLC grew its stake in Westinghouse Air Brake Technologies by 3.0% in the 2nd quarter. Kingfisher Capital LLC now owns 13,580 shares of the transportation company’s stock valued at $1,243,000 after acquiring an additional 392 shares during the period.

Westinghouse Air Brake Technologies (WAB) traded down $0.20 on Friday, reaching $76.67. 1,115,683 shares of the company’s stock were exchanged, compared to its average volume of 584,681. Westinghouse Air Brake Technologies has a 12 month low of $69.20 and a 12 month high of $93.81. The company has a quick ratio of 1.03, a current ratio of 1.55 and a debt-to-equity ratio of 0.67. The stock has a market cap of $7,360.24, a price-to-earnings ratio of 23.02, a PEG ratio of 1.91 and a beta of 1.08.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Stockholders of record on Monday, November 13th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.63%. Westinghouse Air Brake Technologies’s payout ratio is 18.18%.

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About Westinghouse Air Brake Technologies

Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global freight and transit rail industries. The Company’s segments include the Freight Segment and the Transit Segment. The Freight Segment primarily 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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