FBR & Co Weighs in on Westinghouse Air Brake Technologies Corporation’s FY2018 Earnings (NYSE:WAB)

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) – Equities researchers at FBR & Co increased their FY2018 EPS estimates for shares of Westinghouse Air Brake Technologies Corporation in a research report issued on Wednesday, Zacks Investment Research reports. FBR & Co analyst L. Burke now expects that the company will post earnings of $3.98 per share for the year, up from their previous forecast of $3.97. FBR & Co currently has a “Hold” rating and a $85.00 target price on the stock.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) last released its quarterly earnings results on Tuesday, October 24th. The company reported C$0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.84 by C$0.04. Westinghouse Air Brake Technologies Corporation had a net margin of 7.04% and a return on equity of 11.85%. The firm had revenue of C$957.93 million during the quarter, compared to the consensus estimate of C$947.18 million. During the same quarter last year, the firm earned $0.94 earnings per share. The company’s revenue for the quarter was up 41.8% on a year-over-year basis.

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Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Westinghouse Air Brake Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. B. Riley reiterated a “neutral” rating on shares of Westinghouse Air Brake Technologies Corporation in a research report on Wednesday, November 1st. Buckingham Research decreased their price objective on shares of Westinghouse Air Brake Technologies Corporation from $100.00 to $97.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. Stifel Nicolaus restated a “hold” rating and issued a $75.00 price target (up from $74.00) on shares of Westinghouse Air Brake Technologies Corporation in a report on Wednesday, October 25th. Finally, KeyCorp restated a “buy” rating and issued a $100.00 price target on shares of Westinghouse Air Brake Technologies Corporation in a report on Sunday, September 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Westinghouse Air Brake Technologies Corporation presently has a consensus rating of “Hold” and a consensus target price of C$87.75.

Shares of Westinghouse Air Brake Technologies Corporation (WAB) opened at C$76.51 on Friday. Westinghouse Air Brake Technologies Corporation has a 12-month low of C$69.20 and a 12-month high of C$93.81. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.03 and a current ratio of 1.55. The firm has a market cap of $7,344.88, a price-to-earnings ratio of 22.98, a PEG ratio of 1.91 and a beta of 1.08.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 13th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Friday, November 10th. Westinghouse Air Brake Technologies Corporation’s dividend payout ratio is currently 18.18%.

In related news, VP David L. Deninno sold 1,917 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of C$76.10, for a total transaction of C$145,883.70. Following the transaction, the vice president now directly owns 56,131 shares of the company’s stock, valued at C$4,271,569.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert J. Brooks sold 3,500 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of C$77.66, for a total transaction of C$271,810.00. Following the transaction, the director now directly owns 84,221 shares in the company, valued at C$6,540,602.86. The disclosure for this sale can be found here. 11.69% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its position in shares of Westinghouse Air Brake Technologies Corporation by 15.2% during the second quarter. IFP Advisors Inc now owns 1,913 shares of the company’s stock valued at $175,000 after purchasing an additional 252 shares in the last quarter. Tredje AP fonden lifted its position in shares of Westinghouse Air Brake Technologies Corporation by 15.7% during the second quarter. Tredje AP fonden now owns 2,720 shares of the company’s stock valued at $249,000 after purchasing an additional 370 shares in the last quarter. Moody Lynn & Lieberson LLC bought a new position in shares of Westinghouse Air Brake Technologies Corporation during the second quarter valued at about $520,000. Buffington Mohr McNeal lifted its position in shares of Westinghouse Air Brake Technologies Corporation by 1.9% during the second quarter. Buffington Mohr McNeal now owns 10,165 shares of the company’s stock valued at $930,000 after purchasing an additional 185 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Westinghouse Air Brake Technologies Corporation by 873.0% during the third quarter. Pacer Advisors Inc. now owns 15,860 shares of the company’s stock valued at $1,201,000 after purchasing an additional 14,230 shares in the last quarter.

About Westinghouse Air Brake Technologies Corporation

Westinghouse Air Brake Technologies Corporation (Wabtec), doing business as Wabtec Corporation, is a provider of technology-based equipment and services for the global freight and transit rail industries. The Company’s segments include the Freight Segment and the Transit Segment. The Freight Segment primarily 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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Earnings History and Estimates for Westinghouse Air Brake Technologies Corporation (NYSE:WAB)

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