Westinghouse Air Brake Technologies (NYSE:WAB) has recently released its quarterly earnings data on April 26th, 2023. The leading transportation company announced an impressive quarterly earning per share of $1.28 which exceeded the consensus estimates by $0.09. This news came as a surprise to analysts who had predicted a total revenue of $2.13 billion for the quarter, but was instead met with a whopping $2.19 billion, marking a 13.9% increase in comparison to the same quarter last year where earnings were recorded at $1.13 EPS.
The net margin for Westinghouse Air Brake Technologies was reported at 7.57% accompanied by a return on equity of 9.09%. These proving numbers bode well for WAB’s future as they continue to navigate through their market.
In light of their recent success and positive performance in the stock market, Chief Technology Officer Eric Gebhardt sold 2,407 shares of WAB’s stock for a total value of $237,546.83 back on May 9th.
Despite the trade, WAB’s stock didn’t take much hits as it opened at an exceptional price point of $103.42 on June 22nd, showing that investors appreciate and acknowledge WAB’s impact within the industry.
This isn’t just good news for WAB but is an overall trajectory toward progress in the transportation sector despite external challenges experienced through much pandemic turbulence over these past years.
Moving forward with pride and direction gives precedence to other leading companies operating within this spectrum to follow suit in pursuing excellence and emerging as resilient leaders when the world becomes uncertain under external pressures from various political or epidemiological conditions that may arise throughout time and geography alike.
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Westinghouse Air Brake Technologies Co. receives increase in Q3 2024 EPS estimates and positive ratings
Westinghouse Air Brake Technologies Co. (NYSE:WAB) recently received an increase in Q3 2024 EPS estimates by Zacks Research analysts. This was noted in a research note issued on June 19th, where analyst M. Basu predicts that the transportation company will post earnings per share of $1.39 for the quarter, up from their prior forecast of $1.38. The consensus estimate for Westinghouse Air Brake Technologies’ current full-year earnings is $5.41 per share.
Further estimates were provided by Zacks Research, including Westinghouse Air Brake Technologies’ FY2024 earnings at $5.82 EPS, Q1 2025 earnings at $1.51 EPS and FY2025 earnings at $6.37 EPS.
Several research firms have also weighed in on WAB in recent times with StockNews.com assuming coverage on May 18th and issuing a “buy” rating on the stock. In April, Morgan Stanley raised their target price for the company from $107 to $108 and gave it an “equal weight” rating.
Overall, according to Bloomberg, Westinghouse Air Brake Technologies has an average rating of “Moderate Buy” with a consensus target price of $114.20.
Several institutional investors have recently modified their holdings of WAB including Massmutual Trust Co. FSB ADV which lifted its holdings by 48.9% during the first quarter and Gibson Wealth Advisors LLC which increased their holdings by 6,350% in the fourth quarter.
Institutional investors and hedge funds currently own 89.65% of the company’s stock highlighting investor confidence in future growth prospects.
These updates provide insight into Westinghouse Air Brake Technologies potential trajectory with increasing EPS estimates and positive ratings from research firms possibly hinting towards bright future prospects for this transportation company as institutional investors continue to show confidence through increased holdings.