KeyCorp Weighs in on Westinghouse Air Brake Technologies Corporation’s FY2017 Earnings (NYSE:WAB)

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) – KeyCorp dropped their FY2017 earnings estimates for shares of Westinghouse Air Brake Technologies Corporation in a report released on Tuesday, Zacks Investment Research reports. KeyCorp analyst S. Barger now expects that the transportation company will post earnings per share of $3.49 for the year, down from their prior estimate of $3.57. KeyCorp has a “Buy” rating and a $100.00 price target on the stock.

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

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A number of other equities analysts have also commented on WAB. B. Riley reaffirmed a “neutral” rating on shares of Westinghouse Air Brake Technologies Corporation in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of Westinghouse Air Brake Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub lowered shares of Westinghouse Air Brake Technologies Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. FBR & Co set a $85.00 price target on shares of Westinghouse Air Brake Technologies Corporation and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Deutsche Bank AG set a $85.00 price target on shares of Westinghouse Air Brake Technologies Corporation and gave the stock a “hold” rating in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $87.75.

Westinghouse Air Brake Technologies Corporation (NYSE WAB) traded up $1.13 during trading hours on Friday, reaching $76.51. 704,600 shares of the company were exchanged, compared to its average volume of 808,837. Westinghouse Air Brake Technologies Corporation has a 1-year low of $69.20 and a 1-year high of $93.81. The company has a market capitalization of $7,236.42, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The company has a current ratio of 1.55, a quick ratio of 1.03 and a debt-to-equity ratio of 0.67.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC boosted its stake in shares of Westinghouse Air Brake Technologies Corporation by 15.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,218,217 shares of the transportation company’s stock valued at $111,467,000 after purchasing an additional 165,735 shares in the last quarter. Capital Counsel LLC NY boosted its stake in shares of Westinghouse Air Brake Technologies Corporation by 1.6% in the 2nd quarter. Capital Counsel LLC NY now owns 869,836 shares of the transportation company’s stock valued at $79,590,000 after purchasing an additional 13,918 shares in the last quarter. Williams Jones & Associates LLC boosted its stake in shares of Westinghouse Air Brake Technologies Corporation by 0.7% in the 2nd quarter. Williams Jones & Associates LLC now owns 634,323 shares of the transportation company’s stock valued at $58,041,000 after purchasing an additional 4,275 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Westinghouse Air Brake Technologies Corporation by 64.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 623,437 shares of the transportation company’s stock valued at $57,044,000 after purchasing an additional 244,119 shares in the last quarter. Finally, Beck Mack & Oliver LLC boosted its stake in shares of Westinghouse Air Brake Technologies Corporation by 75.8% in the 3rd quarter. Beck Mack & Oliver LLC now owns 596,459 shares of the transportation company’s stock valued at $45,182,000 after purchasing an additional 257,150 shares in the last quarter.

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

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

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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