Westinghouse Air Brake Technologies Corp (NYSE:WAB) Expected to Announce Quarterly Sales of $2.19 Billion

Brokerages forecast that Westinghouse Air Brake Technologies Corp (NYSE:WAB) will post $2.19 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Westinghouse Air Brake Technologies’ earnings, with the lowest sales estimate coming in at $2.09 billion and the highest estimate coming in at $2.26 billion. Westinghouse Air Brake Technologies reported sales of $1.12 billion during the same quarter last year, which indicates a positive year over year growth rate of 95.5%. The firm is scheduled to report its next earnings results before the market opens on Tuesday, February 18th.

On average, analysts expect that Westinghouse Air Brake Technologies will report full-year sales of $8.00 billion for the current year, with estimates ranging from $7.92 billion to $8.05 billion. For the next financial year, analysts expect that the firm will post sales of $8.64 billion, with estimates ranging from $8.08 billion to $9.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Westinghouse Air Brake Technologies.

A number of equities analysts recently issued reports on the stock. Citigroup lowered their price objective on shares of Westinghouse Air Brake Technologies from $84.00 to $78.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Cowen reiterated a “buy” rating and set a $92.00 price objective on shares of Westinghouse Air Brake Technologies in a research report on Thursday, October 31st. ValuEngine cut shares of Westinghouse Air Brake Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Stephens upped their price objective on shares of Westinghouse Air Brake Technologies from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Finally, Zacks Investment Research cut shares of Westinghouse Air Brake Technologies from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Friday, January 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.58.

In other Westinghouse Air Brake Technologies news, Director Michael W. D. Howell sold 717 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $79.30, for a total value of $56,858.10. Following the completion of the transaction, the director now directly owns 7,180 shares in the company, valued at approximately $569,374. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its position in Westinghouse Air Brake Technologies by 3.9% in the 4th quarter. Rhumbline Advisers now owns 296,237 shares of the transportation company’s stock valued at $23,047,000 after acquiring an additional 11,070 shares during the period. Nicholas Company Inc. boosted its stake in shares of Westinghouse Air Brake Technologies by 82.8% in the 4th quarter. Nicholas Company Inc. now owns 134,820 shares of the transportation company’s stock valued at $10,489,000 after purchasing an additional 61,050 shares during the last quarter. Boston Common Asset Management LLC boosted its stake in shares of Westinghouse Air Brake Technologies by 373.9% in the 4th quarter. Boston Common Asset Management LLC now owns 86,837 shares of the transportation company’s stock valued at $6,756,000 after purchasing an additional 68,512 shares during the last quarter. Thompson Investment Management Inc. boosted its stake in shares of Westinghouse Air Brake Technologies by 1.0% in the 3rd quarter. Thompson Investment Management Inc. now owns 59,080 shares of the transportation company’s stock valued at $4,245,000 after purchasing an additional 573 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its stake in shares of Westinghouse Air Brake Technologies by 15.3% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 29,769 shares of the transportation company’s stock valued at $2,139,000 after purchasing an additional 3,943 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

WAB stock opened at $77.05 on Friday. The company has a 50 day simple moving average of $78.37 and a 200 day simple moving average of $74.04. The stock has a market cap of $14.96 billion, a price-to-earnings ratio of 57.50, a P/E/G ratio of 1.56 and a beta of 1.47. Westinghouse Air Brake Technologies has a 1 year low of $61.00 and a 1 year high of $81.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.38 and a quick ratio of 0.77.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, February 6th. Westinghouse Air Brake Technologies’s dividend payout ratio (DPR) is currently 12.60%.

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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