Zacks: Analysts Expect Westinghouse Air Brake Technologies Corp (WAB) Will Announce Quarterly Sales of $1.11 Billion

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Analysts expect Westinghouse Air Brake Technologies Corp (NYSE:WAB) to report $1.11 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Westinghouse Air Brake Technologies’ earnings, with the lowest sales estimate coming in at $1.10 billion and the highest estimate coming in at $1.11 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 2.8%. The firm is expected to issue its next earnings results on Tuesday, February 19th.

According to Zacks, analysts expect that Westinghouse Air Brake Technologies will report full year sales of $4.35 billion for the current fiscal year, with estimates ranging from $4.35 billion to $4.36 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.58 billion, with estimates ranging from $4.51 billion to $4.62 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Westinghouse Air Brake Technologies.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Tuesday, October 30th. The transportation company reported $0.95 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.95. Westinghouse Air Brake Technologies had a net margin of 7.16% and a return on equity of 12.43%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the business posted $0.88 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year.

WAB has been the subject of a number of recent analyst reports. Cowen reiterated a “buy” rating and set a $125.00 price target on shares of Westinghouse Air Brake Technologies in a report on Tuesday, July 24th. Zacks Investment Research raised shares of Westinghouse Air Brake Technologies from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research report on Tuesday, September 25th. William Blair reissued a “buy” rating on shares of Westinghouse Air Brake Technologies in a research report on Monday, September 17th. Stifel Nicolaus boosted their price objective 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. Finally, Wells Fargo & Co set a $105.00 price objective on shares of Westinghouse Air Brake Technologies and gave the company a “buy” rating in a research report on Wednesday, October 31st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $106.73.

NYSE:WAB opened at $83.12 on Wednesday. Westinghouse Air Brake Technologies has a 52 week low of $69.75 and a 52 week high of $115.40. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.84 and a quick ratio of 2.28. The firm has a market cap of $8.41 billion, a P/E ratio of 24.23, a PEG ratio of 1.96 and a beta of 1.17.

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

In other news, Director William E. Kassling sold 8,000 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $109.27, for a total value of $874,160.00. Following the sale, the director now directly owns 81,444 shares of the company’s stock, valued at approximately $8,899,385.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert J. Brooks sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $110.56, for a total transaction of $2,211,200.00. Following the completion of the sale, the director now directly owns 19,200 shares in the company, valued at $2,122,752. The disclosure for this sale can be found here. 11.49% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in WAB. Canada Pension Plan Investment Board grew its position in shares of Westinghouse Air Brake Technologies by 3,064,000.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 306,410 shares of the transportation company’s stock worth $32,136,000 after buying an additional 306,400 shares during the period. Barometer Capital Management Inc. purchased a new stake in shares of Westinghouse Air Brake Technologies in the 3rd quarter worth about $5,842,000. SG Americas Securities LLC grew its position in shares of Westinghouse Air Brake Technologies by 86.3% in the 3rd quarter. SG Americas Securities LLC now owns 28,661 shares of the transportation company’s stock worth $3,006,000 after buying an additional 13,273 shares during the period. Principal Financial Group Inc. grew its position in shares of Westinghouse Air Brake Technologies by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 366,391 shares of the transportation company’s stock worth $29,824,000 after buying an additional 9,375 shares during the period. Finally, Sterling Capital Management LLC grew its position in shares of Westinghouse Air Brake Technologies by 18.8% in the 2nd quarter. Sterling Capital Management LLC now owns 47,706 shares of the transportation company’s stock worth $4,703,000 after buying an additional 7,553 shares during the period.

About Westinghouse Air Brake Technologies

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.

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