Westinghouse Air Brake Technologies Corp (NYSE:WAB) announced a quarterly dividend on Tuesday, October 16th, Zacks reports. Stockholders of record on Friday, November 16th will be paid a dividend of 0.12 per share by the transportation company on Friday, November 30th. This represents a $0.48 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, November 15th.
Westinghouse Air Brake Technologies has raised its dividend payment by an average of 30.1% per year over the last three years and has increased its dividend every year for the last 7 years. Westinghouse Air Brake Technologies has a payout ratio of 12.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Westinghouse Air Brake Technologies to earn $4.57 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 10.5%.
Shares of Westinghouse Air Brake Technologies stock traded down $0.65 during trading on Thursday, reaching $88.33. The company’s stock had a trading volume of 1,308,500 shares, compared to its average volume of 862,943. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.84 and a quick ratio of 2.28. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 2.01 and a beta of 1.19. Westinghouse Air Brake Technologies has a fifty-two week low of $69.75 and a fifty-two week high of $115.40.
Westinghouse Air Brake Technologies (NYSE:WAB) last posted its quarterly earnings results on Tuesday, October 30th. The transportation company reported $0.95 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.95. Westinghouse Air Brake Technologies had a net margin of 7.16% and a return on equity of 12.43%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts anticipate that Westinghouse Air Brake Technologies will post 3.85 earnings per share for the current year.
Several research firms recently commented on WAB. ValuEngine lowered shares of Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research lowered shares of Westinghouse Air Brake Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Stifel Nicolaus set a $110.00 price objective on shares of Westinghouse Air Brake Technologies and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Wells Fargo & Co set a $105.00 target price on shares of Westinghouse Air Brake Technologies and gave the company a “buy” rating in a report on Wednesday, October 31st. Finally, Wellington Shields upgraded shares of Westinghouse Air Brake Technologies from a “hold” rating to a “gradually accumulate” rating in a report on Monday, October 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $106.73.
About Westinghouse Air Brake Technologies
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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