Westinghouse Air Brake Technologies Corp (NYSE:WAB) Expected to Post Quarterly Sales of $2.15 Billion
Wall Street analysts expect Westinghouse Air Brake Technologies Corp (NYSE:WAB) to announce $2.15 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Westinghouse Air Brake Technologies’ earnings, with estimates ranging from $2.13 billion to $2.20 billion. Westinghouse Air Brake Technologies reported sales of $1.08 billion during the same quarter last year, which would suggest a positive year over year growth rate of 99.1%. The firm is expected to report its next quarterly earnings report on Tuesday, October 29th.
According to Zacks, analysts expect that Westinghouse Air Brake Technologies will report full year sales of $8.29 billion for the current financial year, with estimates ranging from $8.14 billion to $8.41 billion. For the next financial year, analysts anticipate that the firm will post sales of $9.13 billion, with estimates ranging from $8.50 billion to $9.41 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Westinghouse Air Brake Technologies.
Westinghouse Air Brake Technologies (NYSE:WAB) last released its quarterly earnings data on Tuesday, July 30th. The transportation company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.08. Westinghouse Air Brake Technologies had a net margin of 3.68% and a return on equity of 8.34%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. Westinghouse Air Brake Technologies’s quarterly revenue was up 101.2% on a year-over-year basis.
WAB traded up $0.81 during trading on Friday, hitting $68.81. The stock had a trading volume of 1,502,221 shares, compared to its average volume of 2,219,376. The firm has a market cap of $12.53 billion, a PE ratio of 18.06, a P/E/G ratio of 1.28 and a beta of 1.41. Westinghouse Air Brake Technologies has a 12 month low of $61.00 and a 12 month high of $115.40. The company has a current ratio of 1.32, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. The company has a 50 day simple moving average of $71.29 and a 200-day simple moving average of $71.45.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, August 8th. Westinghouse Air Brake Technologies’s dividend payout ratio is presently 12.60%.
In other news, Director William E. Kassling acquired 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $62.94 per share, for a total transaction of $503,520.00. Following the completion of the acquisition, the director now owns 69,730 shares in the company, valued at $4,388,806.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Electric Co General sold 16,969,692 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $70.33, for a total transaction of $1,193,478,438.36. Following the completion of the transaction, the insider now owns 2,048,515 shares of the company’s stock, valued at approximately $144,072,059.95. The disclosure for this sale can be found here. Insiders own 6.56% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Coastal Capital Group Inc. acquired a new position in shares of Westinghouse Air Brake Technologies in the second quarter valued at about $25,000. YorkBridge Wealth Partners LLC grew its stake in Westinghouse Air Brake Technologies by 72.4% during the second quarter. YorkBridge Wealth Partners LLC now owns 393 shares of the transportation company’s stock worth $28,000 after buying an additional 165 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Westinghouse Air Brake Technologies during the first quarter worth about $34,000. Iat Reinsurance Co. LTD. acquired a new stake in Westinghouse Air Brake Technologies during the first quarter worth about $48,000. Finally, Stonebridge Capital Advisors LLC acquired a new stake in Westinghouse Air Brake Technologies during the second quarter worth about $49,000. Institutional investors and hedge funds own 87.12% 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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