Westinghouse Air Brake Stock (NYSE:WAB), Trade Ideas

Westinghouse Air Brake

Westinghouse Air Brake Technologies Corp is a provider of value-added, technology-based products and services for the freight rail and passenger transit industries, and the mining, marine, and industrial markets. It provides its products and services through two main business segments, Freight and Transit. The company generates maximum revenue from the Freight segment which manufactures new and modernized locomotives, provides aftermarket parts and services to existing locomotives; provides components to new and existing freight cars; builds new commuter locomotives; supplies rail control and infrastructure products including electronics, positive train control equipment, signal design and engineering services. Geographically, it generates a majority of its revenue from the United States.

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Westinghouse Air Brake Technologies (NYSE: WAB) came out with quarterly earnings of $1.89 per share, beating the Zacks Consensus Estimate of $1.49 per share. This compares to earnings of $1.28 per share a year ago. These figures are adjusted for non-recurring items.

Westinghouse Air Brake Technologies Beats Q1 Earnings and Revenue Estimates

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Why Teledyne Technologies Shares Are Trading Lower By 9%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

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Westinghouse Air Brake Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wab#NYSE">WAB</a>) came out with quarterly earnings of $1.89 per share, beating the Zacks Consensus Estimate of $1.49 per share. This compares to earnings of $1.28 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 26.85%. A quarter ago, it was expected that this maker of parts for locomotives, subways and buses would post earnings of $1.57 per share when it actually produced earnings of $1.54, delivering a surprise of -1.91%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Wabtec, which belongs to the Zacks Transportation - Equipment and Leasing industry, posted revenues of $2.5 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 6.24%. This compares to year-ago revenues of $2.19 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Wabtec shares have added about 17% since the beginning of the year versus the S&amp;P 500&#39;s gain of 6.3%.
What&#39;s Next for Wabtec?
While Wabtec has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Wabtec: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.67 on $2.55 billion in revenues for the coming quarter and $6.73 on $10.14 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Transportation - Equipment and Leasing is currently in the top 14% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Air Lease (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/al#NYSE">AL</a>), is yet to report results for the quarter ended March 2024. The results are expected to be released on May 6.
This company that leases planes to airlines is expected to post quarterly earnings of $1.48 per share in its upcoming report, which represents a year-over-year change of +39.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Air Lease&#39;s revenues are expected to be $680.92 million, up 7% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2260827/westinghouse-air-brake-technologies-wab-beats-q1-earnings-and-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2260827">To read this article on Zacks.com click here.</a>

Shares of Teledyne Technologies Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) fell sharply during Wednesday's session after the company reported worse-than-expected first-quarter financial results and <a href="https://www.benzinga.com/quote/TDY/earnings">cut FY24 adjusted EPS guidance.</a>
Teledyne Technologies posted adjusted earnings of $4.55 per share, missing market estimates of $4.63 per share. The company's quarterly sales came in at $1.35 billion versus expectations of $1.40 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Teledyne Technologies shares dipped 9.3% to $369.16 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSE#NASDAQ">CSSE</a>) gained 136% to $0.3570.</li>
<li>BranchOut Food Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOF#NASDAQ">BOF</a>) shares climbed 73% to $1.98 after the company announced it has expanded its existing relationship with the nation&#8217;s largest retailer, which brings the total annualized value of commitments from the retailer to over $8 million.</li>
<li>Amesite Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMST#NASDAQ">AMST</a>) jumped 55.7% to $3.10 after the company announced the Beta release of its NurseMagic app.</li>
<li>Lichen China Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LICN#NASDAQ">LICN</a>) gained 53.5% to $0.8599.</li>
<li>WiMi Hologram Cloud Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIMI#NASDAQ">WIMI</a>) rose 44.6% to $1.05.</li>
<li>Mullen Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) rose 44% to $3.93.</li>
<li>Prenetics Global Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRE#NASDAQ">PRE</a>) gained 36.6% to $6.25.</li>
<li>B. Riley Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) shares surged 29.9% to $28.20 after the company announced the results of an independent investigation showed the company and its executives had no involvement with, or knowledge of, any of the alleged misconduct concerning Mr. Kahn or any of his affiliates.</li>
<li>MMTec, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) shares climbed 29% to $2.8948.</li>
<li>Connexa Sports Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYAI#NASDAQ">YYAI</a>) gained 28.8% to $0.9427.</li>
<li>Ribbon Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBBN#NASDAQ">RBBN</a>) shares rose 27.2% to $3.2699 after the company reported first-quarter financial results and issued guidance.</li>
<li>TROOPS, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TROO#NASDAQ">TROO</a>) gained 26.6% to $1.38.</li>
<li>Babcock &amp; Wilcox Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BW#NYSE">BW</a>) gained 19.9% to $1.10</li>
<li>Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) surged 12.1% to $65.13 following better-than-expected first-quarter financial results.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) gained 11.9% to $161.93 following first-quarter results.</li>
<li>Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) climbed 11.2% to $88.07 after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.</li>
<li>Intchains Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICG#NYSE">ICG</a>) gained 10.3% to $10.30.</li>
<li>Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>) surged 9.2% to $4.1402. Navitas Semiconductor is expected to report first-quarter financial results on Thursday, May 9.</li>
<li>Westinghouse Air Brake Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) surged 9% to $161.84 after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.</li>
<li>Stride, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) surged 8.4% to $63.07 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) gained 6.4% to $176.10 following a first-quarter earnings beat.</li>
<li>Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) surged 6.2% to $73.24 after the company reported better than expected first-quarter earnings and issued guidance.</li>
<li>Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) rose gained 4.4% to $205.69 after the company reported better-than-expected first-quarter financial results and raised FY24 adjusted EPS guidance.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Neo-Concept International Group Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCI#NASDAQ">NCI</a>) fell 67.4% to $3.06 after jumping over 137% on Tuesday. The company priced its IPO at $4 per share.</li>
<li>iSun, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISUN#NASDAQ">ISUN</a>) fell 40% to $0.0901 after the company announced a reverse stock split.</li>
<li>GlucoTrack, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCTK#NASDAQ">GCTK</a>) declined 36.8% to $0.4801.</li>
<li>Evotec SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NASDAQ">EVO</a>) shares dipped 32.4% to $5.27 after reporting fiscal year 2023 results.</li>
<li>Avenue Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATXI#NASDAQ">ATXI</a>) fell 31% to $0.0925 after the company announced a reverse stock split.</li>
<li>Vaxxinity, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VAXX#NASDAQ">VAXX</a>) dipped 26.8% to $0.1464.</li>
<li>Applied DNA Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APDN#NASDAQ">APDN</a>) fell 20% to $0.2320.</li>
<li>Brand Engagement Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) shares dipped 19.5% to $3.46.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares declined 18.8% to $1.81.</li>
<li>Recon Technology, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCON#NASDAQ">RCON</a>) fell 16.5% to $0.0845.</li>
<li>Finch Therapeutics Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNCH#NASDAQ">FNCH</a>) fell 15.5% to $2.35.</li>
<li>New Oriental Education &amp; Technology Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDU#NYSE">EDU</a>) shares slipped 13.9% to $77.13 following downbeat quarterly earnings.</li>
<li>Mersana Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRSN#NASDAQ">MRSN</a>) fell 11% to $2.8600.</li>
<li>Helen of Troy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HELE#NASDAQ">HELE</a>) dipped 9.8% to $90.45 after the company reported fourth-quarter financial results and issued FY25 guidance below estimates.</li>
<li>Old Dominion Freight Line, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) shares declined 9.7% to $197.95 following a first-quarter revenue miss.</li>
<li>Vicor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) dipped 8.5% to $32.17 after the company reported worse-than-expected first-quarter sales results.</li>
<li>Sleep Number Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNBR#NASDAQ">SNBR</a>) fell 8.4% to $13.38.</li>
<li>Manhattan Associates, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) shares declined 8.4% to $211.18 following quarterly results.</li>
<li>Equinox Gold Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NYSE">EQX</a>) fell 8.2% to $5.25. Equinox Gold entered into a binding share purchase agreement with certain funds managed by Orion Mine Finance Management LP to acquire Orion&#8217;s 40% interest in Greenstone Gold Mine GP Inc., giving Equinox Gold 100% ownership of the Greenstone Mine in Ontario, Canada.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) fell 4.5% to $108.43 after the company reported worse-than-expected first-quarter financial results and issued second-quarter revenue guidance below estimates.</li>
<li>Lithia Motors, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAD#NYSE">LAD</a>) shares fell 4.3% to $253.02 following downbeat quarterly earnings.</li>
</ul>
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Why Teledyne Technologies Shares Are Trading Lower By 9%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

U.S. stocks were mixed, with the Dow Jones falling over 100 points on Wednesday.
Shares of Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) rose sharply during Wednesday's session after the company reported better-than-expected first-quarter financial results and raised FY24 <a href="https://www.benzinga.com/news/earnings/24/04/38402048/hilton-stock-is-jumping-post-q1-results-heres-why">adjusted EPS guidance.</a>
Hilton Worldwide shares gained 5.7% to $208.21 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>B. Riley Financial, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RILY#NASDAQ">RILY</a>) shares gained 29.9% to $28.20 after the company announced the results of an independent investigation showed the company and its executives had no involvement with, or knowledge of, any of the alleged misconduct concerning Mr. Kahn or any of his affiliates.</li>
<li>MMTec, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) shares jumped 29% to $2.8948.</li>
<li>Ribbon Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RBBN#NASDAQ">RBBN</a>) shares climbed 27.2% to $3.2699 after the company reported first-quarter financial results and issued guidance.</li>
<li>Hasbro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAS#NASDAQ">HAS</a>) gained 12.1% to $65.13 following better-than-expected first-quarter financial results.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 11.9% to $161.93 following first-quarter results.</li>
<li>Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) gained 11.2% to $88.07 after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.</li>
<li>Bilibili Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BILI#NASDAQ">BILI</a>) gained 11% to $12.76.</li>
<li>Lifeway Foods, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LWAY#NASDAQ">LWAY</a>) gained 9.9% to $22.50.</li>
<li>Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>) rose 9.2% to $4.1402. Navitas Semiconductor is expected to report first-quarter financial results on Thursday, May 9.</li>
<li>Westinghouse Air Brake Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) gained 9% to $161.84 after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.</li>
<li>Stride, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) gained 8.4% to $63.07 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>Cullinan Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGEM#NASDAQ">CGEM</a>) gained 8% to $18.00.</li>
<li>Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) jumped 7.7% to $13.95.</li>
<li>Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) gained 6.4% to $176.10 following a first-quarter earnings beat.</li>
<li>Boston Scientific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) rose 6.2% to $73.24 after the company reported better than expected first-quarter earnings and issued guidance.</li>
<li>Watsco, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSO#NYSE">WSO</a>) gained 6.2% to $439.17 following first-quarter results.</li>
<li>Group 1 Automotive, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPI#NYSE">GPI</a>) jumped 6.1% to $296.67 after the company reported better-than-expected first-quarter financial results.</li>
</ul>
Read More: Meta Likely To Report Higher Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts

Wabtec Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) shares are trading higher after the company reported better-than-expected first-quarter financial results and raised its 2024 guidance.
WAB reported&nbsp;first-quarter fiscal 2024 sales growth&nbsp;of 13.8% year-over-year to $2.497 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38398975/wabtec-delivers-first-quarter-2024-results-raises-full-year-guidance" rel="noreferrer noopener">beating the consensus of $2.397 billion.</a>
Sales growth&nbsp;was driven&nbsp;by higher sales in Freight (+17.2% Y/Y) and Transit (+5.5% Y/Y) segments.
The adjusted gross margin expanded 240 basis points to 32.9%, and the adjusted operating margin was 19.8%, up 340 basis points.&nbsp;
At the end of the quarter, the total backlog stood at $22.08 billion, down 1.1% Y/Y.&nbsp;
Adjusted EPS of $1.89 (+47.7.3% Y/Y)&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">topped the consensus of $1.49.</a>
During the quarter, the company returned $211 million to shareholders via share repurchases and dividends.&nbsp;
Operating cash flow was $334 million versus cash used for operations of $(25) million a year ago. Wabtec held cash and equivalents of $639 million at the end of the quarter.&nbsp;
&#8220;Looking ahead, we continue to see underlying customer demand for our products and solutions.&nbsp;Our orders pipeline and 12-month backlog continue to be strong,&nbsp;which provides&nbsp;visibility for profitable growth&nbsp;ahead.&nbsp;Our team&nbsp;is focused&nbsp;on product innovation, disciplined cost management, and relentless execution for our customers.&nbsp;These factors, coupled with&nbsp;our strong Q1 results,&nbsp;give us confidence to raise our full-year 2024 guidance,&#8221; commented Rafael Santana, Wabtec&#8217;s President and CEO.
2024 Guidance: Wabtec raised the Adjusted EPS outlook to $7-$7.40 (from $6.50-$6.90) <a href="https://www.benzinga.com/calendars/guidance">versus consensus of $6.79.</a>
The company sees sales of $10.25 billion-$10.55 billion (prior $10.05 billion -$10.35 billion) versus a consensus of $10.205 billion.
Price Action: WAB shares are trading higher by 6.42% at $158.00 premarket at&nbsp;the last check Wednesday.

Guidance

Movers

Why Is Wabtec Stock Gaining Today?

WIIM

Wabtec shares are trading higher after the company reported better-than-expected Q1 financial results and raised its 2024 guidance.

2024 Financial&nbsp;Guidance
<ul>
<li>Wabtec updated its 2024 financial&nbsp;guidance&nbsp;with sales expected to be in a range of&nbsp;$10.25 billion&nbsp;to&nbsp;$10.55 billion&nbsp;and adjusted earnings per diluted share to be in a range of&nbsp;$7.00&nbsp;to&nbsp;$7.40.</li>
<li>For full year 2024, Wabtec expects operating cash flow conversion of greater than&nbsp;90 percent.</li>
</ul>

Wabtec Raises 2024 Guidance: Expects Sales Of $10.25B-$10.55B (Prior $10.05B-$10.35B) Vs. $10.205B Consensus And Sees Adjusted EPS Of $7-$7.40 (Prior $6.50 to $6.90) Vs. $6.79 Consensus

Westinghouse Air Brake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) reported quarterly earnings of $1.89 per share which beat the analyst consensus estimate of $1.49 by 26.85 percent. This is a 47.66 percent increase over earnings of $1.28 per share from the same period last year. The company reported quarterly sales of $2.497 billion which beat the analyst consensus estimate of $2.397 billion by 4.17 percent. This is a 13.81 percent increase over sales of $2.194 billion the same period last year.

Earnings Beats

Westinghouse Air Brake Q1 2024 Adj EPS $1.89 Beats $1.49 Estimate, Sales $2.497B Beat $2.397B Estimate

The two companies will collaborate on developing one of the few approaches being considered to address interoperability of rail systems in Australia.

Wabtec Enters Digital Solutions Agreement With Australian Rail Track Corporation

Goldman Sachs analyst Jerry Revich maintains Westinghouse Air Brake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) with a Neutral and raises the price target from $138 to $152.

Price Target

Analyst Ratings

Goldman Sachs Maintains Neutral on Westinghouse Air Brake, Raises Price Target to $152

Across the recent three months, 6 analysts have shared their insights on Westinghouse Air Brake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $152.83, a high estimate of $162.00, and a low estimate of $135.00. Observing a 5.11% increase, the current average has risen from the previous average price target of $145.40. 
<img src="https://www.benzinga.com/files/images/story/2024/1713211227_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The standing of Westinghouse Air Brake among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ken Hoexter</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$162.00</td>
<td>$156.00</td>
</tr>
<tr>
<td>Steve Barger</td>
<td>Keybanc</td>
<td>Raises</td>
<td>Overweight</td>
<td>$155.00</td>
<td>$133.00</td>
</tr>
<tr>
<td>Allison Poliniak</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$150.00</td>
<td>$135.00</td>
</tr>
<tr>
<td>Bascome Majors</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Positive</td>
<td>$160.00</td>
<td>$150.00</td>
</tr>
<tr>
<td>Justin Long</td>
<td>Stephens &amp; Co.</td>
<td>Raises</td>
<td>Overweight</td>
<td>$155.00</td>
<td>$153.00</td>
</tr>
<tr>
<td>Oliver Holmes</td>
<td>Redburn Atlantic</td>
<td>Announces</td>
<td>Neutral</td>
<td>$135.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Westinghouse Air Brake. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Westinghouse Air Brake compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Westinghouse Air Brake's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
For valuable insights into Westinghouse Air Brake's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/WAB/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Westinghouse Air Brake analyst ratings.</a>
<h2>Unveiling the Story Behind Westinghouse Air Brake</h2>
Westinghouse Air Brake Technologies Corp is a provider of value-added, technology-based products and services for the freight rail and passenger transit industries, and the mining, marine, and industrial markets. It provides its products and services through two main business segments, Freight and Transit. The company generates maximum revenue from the Freight segment which manufactures new and modernized locomotives, provides aftermarket parts and services to existing locomotives; provides components to new and existing freight cars; builds new commuter locomotives; supplies rail control and infrastructure products including electronics, positive train control equipment, signal design and engineering services. Geographically, it generates a majority of its revenue from the United States.
<h3>Unraveling the Financial Story of Westinghouse Air Brake</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: Westinghouse Air Brake displayed positive results in 3 months. As of 31 December, 2023, the company achieved a solid revenue growth rate of approximately 9.54%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Industrials sector.
Net Margin: Westinghouse Air Brake's net margin excels beyond industry benchmarks, reaching 8.51%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Westinghouse Air Brake's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of 2.07%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Westinghouse Air Brake's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 1.14% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.39.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 6 Takes On Westinghouse Air Brake

B of A Securities analyst Ken Hoexter maintains Westinghouse Air Brake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) with a Buy and raises the price target from $156 to $162.

B of A Securities Maintains Buy on Westinghouse Air Brake, Raises Price Target to $162

Westinghouse Air Brake's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) short percent of float has fallen 7.74% since its last report. The company recently reported that it has 2.22 million shares sold short, which is 1.43% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.46 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Westinghouse Air Brake Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711976418_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Westinghouse Air Brake has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Westinghouse Air Brake's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Westinghouse Air Brake's peer group average for short interest as a percentage of float is 6.80%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(WAB) - Analyzing Westinghouse Air Brake's Short Interest

<h3>Gainers</h3>
<ul>
<li>Swvl Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWVL#NASDAQ">SWVL</a>) shares increased by 10.8% to $13.89 during Thursday's pre-market session. The company's market cap stands at $94.3 million. </li>
<li>Nuvve Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVVE#NASDAQ">NVVE</a>) stock rose 8.78% to $1.05. The market value of their outstanding shares is at $4.4 million. As per the news, the Q4 earnings report came out today. </li>
<li>Energous (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WATT#NASDAQ">WATT</a>) shares moved upwards by 7.69% to $2.1. The market value of their outstanding shares is at $12.7 million. The company's, Q4 earnings came out today. </li>
<li>Hydrofarm Holdings Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYFM#NASDAQ">HYFM</a>) stock moved upwards by 6.73% to $1.11. The company's market cap stands at $50.8 million. </li>
<li>Zoomcar Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) stock moved upwards by 6.15% to $0.62. The market value of their outstanding shares is at $40.2 million. </li>
<li>View (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIEW#NASDAQ">VIEW</a>) shares increased by 6.08% to $1.22. The market value of their outstanding shares is at $4.9 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Westinghouse Air Brake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) shares declined by 17.7% to $120.0 during Thursday's pre-market session. The company's market cap stands at $21.2 billion. </li>
<li>Urban-gro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UGRO#NASDAQ">UGRO</a>) shares fell 17.36% to $1.5. The company's market cap stands at $17.5 million. As per the press release, Q4 earnings came out yesterday. </li>
<li>MillerKnoll (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLKN#NASDAQ">MLKN</a>) stock fell 15.5% to $25.8. The market value of their outstanding shares is at $1.8 billion. The company's, Q3 earnings came out yesterday. </li>
<li>Staffing 360 Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAF#NASDAQ">STAF</a>) shares declined by 6.4% to $0.29. The market value of their outstanding shares is at $2.2 million. </li>
<li>Intuitive Machines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) stock decreased by 5.53% to $6.5. The market value of their outstanding shares is at $189.9 million. </li>
<li>Nauticus Robotics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KITT#NASDAQ">KITT</a>) stock decreased by 5.49% to $0.27. The market value of their outstanding shares is at $13.2 million. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

HYFM

KITT

LUNR

MLKN

NVVE

STAF

SWVL

UGRO

VIEW

WATT

ZCAR

12 Industrials Stocks Moving In Thursday's Pre-Market Session

Disclosed on March 14, Rafael Santana, President and CEO at Westinghouse Air Brake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>), executed a substantial insider sell as per the latest SEC filing.
What Happened: Santana's decision to sell 40,219 shares of Westinghouse Air Brake was revealed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000943452/000094345224000101//Archives/edgar/data/943452/000094345224000101/0000943452-24-000101-index.htm">U.S. Securities and Exchange Commission</a> on Thursday. The total value of the sale is $5,655,442.
Monitoring the market, Westinghouse Air Brake's shares down by 1.1% at $139.3 during Friday's morning.
<h3>Delving into Westinghouse Air Brake's Background</h3>
Westinghouse Air Brake Technologies Corp is a provider of value-added, technology-based products and services for the freight rail and passenger transit industries, and the mining, marine, and industrial markets. It provides its products and services through two main business segments, Freight and Transit. The company generates maximum revenue from the Freight segment which manufactures new and modernized locomotives, provides aftermarket parts and services to existing locomotives; provides components to new and existing freight cars; builds new commuter locomotives; supplies rail control and infrastructure products including electronics, positive train control equipment, signal design and engineering services. Geographically, it generates a majority of its revenue from the United States.
<h3>Westinghouse Air Brake's Economic Impact: An Analysis</h3>
Revenue Growth: Over the 3 months period, Westinghouse Air Brake showcased positive performance, achieving a revenue growth rate of 9.54% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Industrials sector, the company excelled with a growth rate higher than the average among peers.
Evaluating Earnings Performance:
<ul>
<li>
Gross Margin: With a high gross margin of 30.25%, the company demonstrates effective cost control and strong profitability relative to its peers.
</li>
<li>
Earnings per Share (EPS): Westinghouse Air Brake's EPS is significantly higher than the industry average. The company demonstrates a robust bottom-line performance with a current EPS of 1.2.
</li>
</ul>
Debt Management: Westinghouse Air Brake's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.39.
Evaluating Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a higher-than-average P/E ratio of 31.09, Westinghouse Air Brake's stock is perceived as being overvalued in the market.
</li>
<li>
Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 2.61 suggests overvaluation in the eyes of investors, considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio 15.88 is above the industry average, suggesting that the market values the company more highly for each unit of EBITDA. This could be attributed to factors such as strong growth prospects or superior operational efficiency.
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.
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<h3>The Relevance of Insider Transactions</h3>
It's important to note that insider transactions alone should not dictate investment decisions, but they can provide valuable insights.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>A Deep Dive into Insider Transaction Codes</h3>
For <a href="https://www.benzinga.com/money/investing-tools">investors</a>, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000943452">Check Out The Full List Of Westinghouse Air Brake's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Insider Selling: Rafael Santana Unloads $5.66M Of Westinghouse Air Brake Stock

Pascal Schweitzer, President Transit at Westinghouse Air Brake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>), disclosed an insider sell on March 13, according to a recent SEC filing.
What Happened: After conducting a thorough analysis, Schweitzer sold 6,000 shares of Westinghouse Air Brake. This information was disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000943452/000094345224000099//Archives/edgar/data/943452/000094345224000099/0000943452-24-000099-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday. The total transaction value is $843,646.
As of Wednesday morning, Westinghouse Air Brake shares are down by 0.0%, currently priced at $143.08.
<h3>Discovering Westinghouse Air Brake: A Closer Look</h3>
Westinghouse Air Brake Technologies Corp is a provider of value-added, technology-based products and services for the freight rail and passenger transit industries, and the mining, marine, and industrial markets. It provides its products and services through two main business segments, Freight and Transit. The company generates maximum revenue from the Freight segment which manufactures new and modernized locomotives, provides aftermarket parts and services to existing locomotives; provides components to new and existing freight cars; builds new commuter locomotives; supplies rail control and infrastructure products including electronics, positive train control equipment, signal design and engineering services. Geographically, it generates a majority of its revenue from the United States.
<h3>Key Indicators: Westinghouse Air Brake's Financial Health</h3>
Positive Revenue Trend: Examining Westinghouse Air Brake's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 9.54% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. When compared to others in the Industrials sector, the company excelled with a growth rate higher than the average among peers.
Evaluating Earnings Performance:
<ul>
<li>
Gross Margin: Achieving a high gross margin of 30.25%, the company performs well in terms of cost management and profitability within its sector.
</li>
<li>
Earnings per Share (EPS): The company excels with an EPS that surpasses the industry average. With a current EPS of 1.2, Westinghouse Air Brake showcases strong earnings per share.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.39.
Navigating Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current Price to Earnings ratio of 31.58 is higher than the industry average, indicating the stock is priced at a premium level according to the market sentiment.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 2.65 is above industry norms, reflecting an elevated valuation for Westinghouse Air Brake's stock and potential overvaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Boasting an EV/EBITDA ratio of 16.1, Westinghouse Air Brake demonstrates a robust market valuation, outperforming industry benchmarks.
</li>
</ul>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
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<h3>The Relevance of Insider Transactions</h3>
Insider transactions serve as a piece of the puzzle in investment decisions, rather than the entire picture.
Exploring the legal landscape, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated by Section 12 of the Securities Exchange Act of 1934. This encompasses executives in the c-suite and major hedge funds. These insiders are required to report their transactions through a Form 4 filing, which must be submitted within two business days of the transaction.
Highlighted by a company insider's new purchase, there's a positive anticipation for the stock to rise.
But, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Transaction Codes To Focus On</h3>
Surveying the realm of stock transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often give prominence to those unfolding in the open market, systematically detailed in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C denotes the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000943452">Check Out The Full List Of Westinghouse Air Brake's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Sell Alert: Pascal Schweitzer Cashes Out $843K In Westinghouse Air Brake Stock

On CNBC&rsquo;s &quot;<a href="https://www.cnbc.com/video/2024/02/28/final-trades-google-wabtec-flex-lng-and-qqq.html">Halftime Report Final Trades</a>,&quot; Steve Weiss of Short Hills Capital Partners said he has bought <a href="https://www.benzinga.com/quote/QQQ"> some puts on Invesco QQQ Trust (NASDAQ: </a><a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
Jenny Harrington of Gilman Hill Asset Management, LLC said FLEX LNG Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/flng#NYSE">FLNG</a>) has a 12% dividend yield.
On Feb. 7, Flex LNG posted better-than-expected earnings for its fourth quarter, while sales missed market estimates, according to data from Benzinga Pro.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Kari Firestone of Aureus Asset Management named Westinghouse Air Brake Technologies Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wab#NYSE">WAB</a>) as her final trade.
On Feb. 26, Wabtec priced its public offering of $500 million of 5.611% senior notes due 2034.&nbsp;Wabtec posted weaker-than-expected earnings for its fourth quarter on Feb. 14.
Joe Terranova of Virtus Investment Partners picked Alphabet Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>).
Alphabet&rsquo;s Google CEO Sundar Pichai recently addressed the recent uproar over the company&rsquo;s Gemini AI chatbot, which has faced criticism for generating historically inaccurate images and text. Acknowledging the issue for the first time since the Gemini controversy broke out last week, Pichai said that it is &quot;completely unacceptable&quot; in an internal <a href="https://www.benzinga.com/24/02/37356467/google-ceo-sundar-pichai-admits-gemini-ai-errors-completely-unacceptable-no-ai-is-perfect-we-got-it">memo reported by Semafor.</a>
<h3>Price Action:</h3>
<ul>
<li>Invesco QQQ Trust fell 0.5% on Wednesday.</li>
<li>FLEX LNG shares rose 3.4% to close at $25.20 during Wednesday&rsquo;s session.</li>
<li>Westinghouse Air Brake Technologies rose 1.3% to close at $139.49 on Wednesday.</li>
<li>Alphabet shares fell 1.9% to close at $137.43.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/02/37363840/7m-bet-on-ocular-therapeutix-check-out-these-3-stocks-insiders-are-buying"> $7M Bet On Ocular Therapeutix? Check Out These 3 Stocks Insiders Are Buying </a>

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CNBC Halftime Report Final Trades: Alphabet, Westinghouse Air Brake Technologies, FLEX LNG, Invesco QQQ Trust, Series 1

The Notes will pay interest semi-annually in arrears. The Notes will mature on March 11, 2034, unless earlier redeemed or repurchased.

Offerings

Wabtec Prices Public Offering Of $500M Of 5.611% Senior Notes Due 2034

<ul>
<li>R$500 million investment in MRS fleet renewal strategy</li>
</ul>
MRS Logística (MRSA-MB) and Wabtec Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) announced an agreement for 30 new Evolution Series locomotives. The deal is valued at around R$500 million with the first deliveries scheduled for 2024. The purchase is part of MRS's railway fleet renewal strategy and reinforces the almost 30-year relationship between the two companies.
According to Guilherme Segalla de Mello, president of MRS Logística, the fleet renewal is crucial for the company to improve efficiency and safety.
"By using a modern fleet of locomotives, we promote better energy efficiency in rail transport and contribute to improving our country's logistics. The railway is already a more sustainable mode of transportation. Even so, we are making every effort to have the lowest possible gas emissions in our operations, thus contributing to sustainable development. This order is aligned with the regulatory commitments assumed by MRS with the Federal Government, in combined efforts between the public and private sectors. It generates more efficiency for the intermodal transportation and promotes the railway industry," he states.
The ES44ACi's advanced technology aligns with the global push towards more sustainable practices. The locomotive aims to provide emissions reductions compared to its predecessor, the AC4400. The high-strength materials used in production also significantly increase diesel engine overhaul intervals, reducing operating costs throughout the locomotive's lifecycle.
"These cutting-edge ES44ACi locomotives offer high performance and greater reliability, as well as reduced CO2 emissions," says Danilo Miyasato, president and regional leader of Wabtec Latin America. "This long-term contract highlights our vision of a greener railway network for Brazil."
Launched in 2022, the ES44ACi model locomotives are equipped with Evolution Series diesel engines, which produce 4,500 horsepower with just 12 cylinders. The electronic four-stroke internal combustion engine with turbocharging provides greater energy efficiency and lower emissions, thanks to a design focused on the thermal efficiency of combustion combined with a double intake air cooling system.

Contracts

MRS Logístical And Wabtec Corporation Announced An Agreement For 30 New Evolution Series Locomotives. The Deal Is Valued At Around R$500 Million With The First Deliveries Scheduled For 2024

It was reported on February 16, that Brian Hehir, Director at Westinghouse Air Brake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) executed a significant insider sell, according to an SEC filing.
What Happened: After conducting a thorough analysis, Hehir sold 5,470 shares of Westinghouse Air Brake. This information was disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000943452/000094345224000004//Archives/edgar/data/943452/000094345224000004/0000943452-24-000004-index.htm">U.S. Securities and Exchange Commission</a> on Friday. The total transaction value is $742,839.
Westinghouse Air Brake's shares are actively trading at $133.96, experiencing a down of 0.0% during Friday's morning session.
<h3>Discovering Westinghouse Air Brake: A Closer Look</h3>
Westinghouse Air Brake Technologies Corp is a provider of value-added, technology-based products and services for the rail industry. It provides its products and services through two main business segments, Freight and Transit. The company generates maximum revenue from the Freight segment.
<h3>Key Indicators: Westinghouse Air Brake's Financial Health</h3>
Revenue Growth: Over the 3 months period, Westinghouse Air Brake showcased positive performance, achieving a revenue growth rate of 9.54% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Industrials sector.
Interpreting Earnings Metrics:
<ul>
<li>
Gross Margin: Achieving a high gross margin of 30.25%, the company performs well in terms of cost management and profitability within its sector.
</li>
<li>
Earnings per Share (EPS): The company excels with an EPS that surpasses the industry average. With a current EPS of 1.2, Westinghouse Air Brake showcases strong earnings per share.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.39.
Valuation Overview:
<ul>
<li>
Price to Earnings (P/E) Ratio: Westinghouse Air Brake's stock is currently priced at a premium level, as reflected in the higher-than-average P/E ratio of 29.57.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 2.48 is above industry norms, reflecting an elevated valuation for Westinghouse Air Brake's stock and potential overvaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Westinghouse Air Brake's EV/EBITDA ratio of 15.2 exceeds industry averages, indicating a premium valuation in the market
</li>
</ul>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
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<h3>Delving Into the Significance of Insider Transactions</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Transaction Codes Worth Your Attention</h3>
For <a href="https://www.benzinga.com/money/investing-tools">investors</a>, a primary focus lies on transactions occurring in the open market, as indicated in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000943452">Check Out The Full List Of Westinghouse Air Brake's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Sell Alert: Brian Hehir Cashes Out $742K In Westinghouse Air Brake Stock

Siemens, Wabtec among bidders for Alstom's U.S. rail signaling unit - Bloomberg

Wabtec secures digital solutions agreement with Australian Rail Track Corporation

Jefferies urges deeper dive into mid-caps, picks 12 ideas including GTA-publisher Take-Two

Notable earnings before Wednesday's open

Westinghouse Air Brake Q1 2024 Earnings Preview

Westinghouse Air Brake beats top-line and bottom-line estimates; raises FY24 EPS outlook

Westinghouse Air Brake Technologies Corporation 2024 Q1 - Results - Earnings Call Presentation

Westinghouse Air Brake Technologies (WAB) has issued an update. The Company has provided an optimistic earnings forecast for the fiscal year 2024, ...

Westinghouse Air Brake Predicts Strong Earnings for 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Westinghouse Air Brake (NYSE:<a href="https://investorplace.com/stock-quotes/wab-stock-quote/">WAB</a>) just reported results for the first quarter of 2024.<ul><li>Westinghouse Air Brake reported earnings per share of $1.89. This was above the analyst estimate for EPS of $1.49.</li><li>The company reported revenue of $2.50 billion.</li><li>This was 4.04% better than the analyst estimate for revenue of $2.40 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/04/wab-stock-earnings-westinghouse-air-brake-for-q1-of-2024/">WAB Stock Earnings: Westinghouse Air Brake Beats EPS, Beats Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

WAB Stock Earnings: Westinghouse Air Brake Beats EPS, Beats Revenue for Q1 2024

Westinghouse Air Brake Technologies Corporation (WAB) Q1 2024 Earnings Call Transcript

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