Brokerages expect Wabtec Co. (NYSE:WAB) to report $1.82 billion in sales for the current quarter, according to Zacks. Three analysts have made estimates for Wabtec’s earnings, with the lowest sales estimate coming in at $1.77 billion and the highest estimate coming in at $1.86 billion. Wabtec reported sales of $2.00 billion during the same quarter last year, which would suggest a negative year over year growth rate of 9%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, October 29th.
On average, analysts expect that Wabtec will report full year sales of $7.57 billion for the current fiscal year, with estimates ranging from $7.48 billion to $7.69 billion. For the next financial year, analysts anticipate that the business will post sales of $8.17 billion, with estimates ranging from $8.07 billion to $8.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Wabtec.
Wabtec (NYSE:WAB) last posted its earnings results on Tuesday, July 28th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Wabtec had a net margin of 5.29% and a return on equity of 7.60%. Wabtec’s quarterly revenue was down 24.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.06 EPS.
WAB has been the subject of several analyst reports. Citigroup lifted their price objective on shares of Wabtec from $60.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. ValuEngine cut shares of Wabtec from a “hold” rating to a “sell” rating in a research note on Thursday. Wells Fargo & Company lifted their price objective on shares of Wabtec from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Finally, Wolfe Research cut shares of Wabtec from a “market perform” rating to an “underperform” rating in a research note on Tuesday, July 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Wabtec currently has a consensus rating of “Hold” and an average price target of $72.25.
In related news, Director Linda S. Harty purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were bought at an average cost of $61.93 per share, with a total value of $309,650.00. Following the acquisition, the director now owns 13,382 shares of the company’s stock, valued at approximately $828,747.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erwan Faiveley sold 4,600 shares of Wabtec stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $68.26, for a total transaction of $313,996.00. Following the sale, the director now directly owns 9,026 shares in the company, valued at $616,114.76. The disclosure for this sale can be found here. 5.35% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. WASHINGTON TRUST Co grew its holdings in shares of Wabtec by 63,022.4% during the 2nd quarter. WASHINGTON TRUST Co now owns 123,720 shares of the transportation company’s stock valued at $7,096,000 after purchasing an additional 123,524 shares during the last quarter. Cibc World Markets Corp grew its holdings in Wabtec by 419.6% during the 2nd quarter. Cibc World Markets Corp now owns 69,248 shares of the transportation company’s stock worth $3,987,000 after acquiring an additional 55,921 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in Wabtec by 44.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,570 shares of the transportation company’s stock worth $609,000 after acquiring an additional 3,263 shares during the last quarter. Silvercrest Asset Management Group LLC grew its holdings in Wabtec by 5.5% during the 2nd quarter. Silvercrest Asset Management Group LLC now owns 6,986 shares of the transportation company’s stock worth $402,000 after acquiring an additional 367 shares during the last quarter. Finally, Gabelli Funds LLC bought a new stake in Wabtec during the 1st quarter worth approximately $217,000. 88.10% of the stock is currently owned by institutional investors.
Shares of NYSE WAB traded up $1.99 during mid-day trading on Wednesday, reaching $62.72. 801,203 shares of the company were exchanged, compared to its average volume of 1,477,057. The company’s 50-day simple moving average is $66.22 and its 200-day simple moving average is $59.19. The company has a quick ratio of 0.62, a current ratio of 1.14 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $11.94 billion, a P/E ratio of 28.13, a P/E/G ratio of 6.10 and a beta of 1.54. Wabtec has a twelve month low of $35.07 and a twelve month high of $81.75.
Wabtec Corporation provides technology-based equipment, systems, and services for the freight rail and passenger transit vehicle industries worldwide. It operates through two segments, Freight and Transit. The Freight segment manufactures and services components for new and existing freight cars and locomotives; builds new commuter 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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