Wall Street brokerages expect Wabtec Co. (NYSE:WAB) to report sales of $1.82 billion for the current quarter, Zacks reports. Three analysts have provided estimates for Wabtec’s earnings, with estimates ranging from $1.77 billion to $1.86 billion. Wabtec posted sales of $2.00 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 9%. The firm is scheduled to issue its next quarterly earnings results 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 year, with estimates ranging from $7.48 billion to $7.69 billion. For the next financial year, analysts expect that the company will post sales of $8.17 billion, with estimates ranging from $8.07 billion to $8.37 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Wabtec.
Wabtec (NYSE:WAB) last posted its quarterly earnings results on Tuesday, July 28th. The transportation company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.12. Wabtec had a net margin of 5.29% and a return on equity of 7.60%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the business posted $1.06 earnings per share. The company’s quarterly revenue was down 24.0% compared to the same quarter last year.
Several research analysts recently issued reports on WAB shares. Wolfe Research lowered shares of Wabtec from a “market perform” rating to an “underperform” rating in a research report on Tuesday, July 7th. ValuEngine cut shares of Wabtec from a “hold” rating to a “sell” rating in a research note on Thursday. Citigroup upped 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. Finally, Wells Fargo & Company upped 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. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The company 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 dated Monday, August 3rd. The shares were acquired at an average cost of $61.93 per share, with a total value of $309,650.00. Following the completion of the purchase, the director now directly owns 13,382 shares of the company’s stock, valued at $828,747.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erwan Faiveley sold 4,600 shares of the 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 owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in WAB. Berman Capital Advisors LLC boosted its stake in Wabtec by 118.9% in the second quarter. Berman Capital Advisors LLC now owns 3,130 shares of the transportation company’s stock valued at $178,000 after acquiring an additional 1,700 shares during the last quarter. Gabelli Funds LLC bought a new position in Wabtec in the first quarter valued at approximately $217,000. Silvercrest Asset Management Group LLC boosted its stake in Wabtec by 5.5% in the second quarter. Silvercrest Asset Management Group LLC now owns 6,986 shares of the transportation company’s stock valued at $402,000 after acquiring an additional 367 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Wabtec by 44.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,570 shares of the transportation company’s stock valued at $609,000 after acquiring an additional 3,263 shares during the last quarter. Finally, Cibc World Markets Corp boosted its stake in Wabtec by 419.6% in the second quarter. Cibc World Markets Corp now owns 69,248 shares of the transportation company’s stock valued at $3,987,000 after acquiring an additional 55,921 shares during the last quarter. 88.10% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:WAB traded up $1.99 during mid-day trading on Wednesday, hitting $62.72. The company’s stock had a trading volume of 801,203 shares, compared to its average volume of 1,477,057. Wabtec has a fifty-two week low of $35.07 and a fifty-two week high of $81.75. The company has a current ratio of 1.14, a quick ratio of 0.62 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $11.94 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 6.10 and a beta of 1.54. The stock has a fifty day moving average of $66.22 and a 200-day moving average of $59.19.
Wabtec Company Profile
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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