Zacks: Brokerages Anticipate Westinghouse Air Brake Technologies Corp (WAB) Will Announce Quarterly Sales of $996.04 Million

Analysts expect Westinghouse Air Brake Technologies Corp (NYSE:WAB) to announce sales of $996.04 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Westinghouse Air Brake Technologies’ earnings, with the lowest sales estimate coming in at $976.20 million and the highest estimate coming in at $1.02 billion. Westinghouse Air Brake Technologies posted sales of $957.93 million in the same quarter last year, which suggests a positive year over year growth rate of 4%. The business is scheduled to issue its next quarterly earnings report on Tuesday, October 23rd.

On average, analysts expect that Westinghouse Air Brake Technologies will report full year sales of $4.25 billion for the current financial year, with estimates ranging from $4.24 billion to $4.28 billion. For the next year, analysts forecast that the firm will post sales of $4.48 billion, with estimates ranging from $4.40 billion to $4.53 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Westinghouse Air Brake Technologies.

Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings data on Tuesday, July 24th. The transportation company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.02. Westinghouse Air Brake Technologies had a return on equity of 12.40% and a net margin of 6.88%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company earned $0.75 EPS. The firm’s revenue was up 19.2% compared to the same quarter last year.

Several research analysts recently commented on the company. B. Riley set a $95.00 price objective on Westinghouse Air Brake Technologies and gave the company a “hold” rating in a research note on Tuesday, July 24th. Wolfe Research downgraded Westinghouse Air Brake Technologies from an “outperform” rating to a “peer perform” rating in a research note on Friday. KeyCorp restated an “overweight” rating and issued a $113.00 target price (up from $105.00) on shares of Westinghouse Air Brake Technologies in a report on Wednesday, July 25th. Stifel Nicolaus upped their target price on Westinghouse Air Brake Technologies from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, Zacks Investment Research upgraded Westinghouse Air Brake Technologies from a “hold” rating to a “strong-buy” rating and set a $119.00 target price for the company in a report on Monday, July 16th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $104.69.

In other news, VP David L. Deninno sold 18,690 shares of the stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $109.11, for a total transaction of $2,039,265.90. Following the completion of the transaction, the vice president now directly owns 70,228 shares in the company, valued at approximately $7,662,577.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Albert J. Neupaver sold 104,000 shares of the stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $109.19, for a total value of $11,355,760.00. Following the transaction, the director now owns 648,475 shares of the company’s stock, valued at $70,806,985.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 207,208 shares of company stock valued at $22,743,371. 11.49% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL grew its holdings in shares of Westinghouse Air Brake Technologies by 1.2% during the 1st quarter. Blair William & Co. IL now owns 521,687 shares of the transportation company’s stock worth $42,465,000 after purchasing an additional 6,294 shares during the period. Legal & General Group Plc grew its holdings in shares of Westinghouse Air Brake Technologies by 1.0% during the 1st quarter. Legal & General Group Plc now owns 402,344 shares of the transportation company’s stock worth $32,750,000 after purchasing an additional 4,045 shares during the period. Principal Financial Group Inc. boosted its holdings in Westinghouse Air Brake Technologies by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 366,391 shares of the transportation company’s stock valued at $29,824,000 after acquiring an additional 9,375 shares during the period. California Public Employees Retirement System boosted its holdings in Westinghouse Air Brake Technologies by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 212,509 shares of the transportation company’s stock valued at $17,298,000 after acquiring an additional 5,052 shares during the period. Finally, Asset Management One Co. Ltd. boosted its holdings in Westinghouse Air Brake Technologies by 1.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 137,899 shares of the transportation company’s stock valued at $11,225,000 after acquiring an additional 1,510 shares during the period.

NYSE WAB traded down $1.49 during mid-day trading on Wednesday, hitting $102.81. The stock had a trading volume of 534,066 shares, compared to its average volume of 825,285. Westinghouse Air Brake Technologies has a twelve month low of $69.75 and a twelve month high of $115.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.99 and a current ratio of 1.52. The company has a market cap of $10.10 billion, a P/E ratio of 30.10, a P/E/G ratio of 2.34 and a beta of 0.93.

Westinghouse Air Brake Technologies Company Profile

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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Earnings History and Estimates for Westinghouse Air Brake Technologies (NYSE:WAB)

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