Wabtec (WAB) - Zacks #1 Rank Top Performers

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Wabtec Corporation ( WAB ) detailed a solid fourth-quarter report yesterday. It didn't take long for its 2012 earnings estimates to move higher. Nor was there any hesitation in the company reaching high up on the Zacks #1 Rank Top Performers List.

Today, it gained 5.15%, while volume eclipsed 500,000 shares. The daily average is only around 320,000.

WAB is a global provider of technology-based products and services for rail and industrial markets. The company is part of the transportation - equipment & leasing industry , which currently has a Zacks Industry Rank of 43rd out of 265.

The fourth quarter saw earnings per share of 96 cents, which was 50% better than the year-ago result, but only matched the Zacks Consensus Estimate. Sales jumped 36% to $535 million, thanks to higher sales in the Freight Group.

The company also forecasted earnings per share of around $4.30 for this year, with revenues expected to increase about 10%.

It should be noted that there are only two analysts covering the company for this year. However, one of those two have raised expectations in the past seven days, which was enough to send the Zacks Consensus Estimate higher by almost 2% to $4.33 per share.

There are six analysts covering for 2013, where the Zacks Consensus Estimate is up 1.2% in 30 days to $4.92. These expectations suggest potential profit growth of more than 13% for next year over this year.

Wabtec believes it can take full advantage of its growth opportunities around the world and is in a great position for another record performance in 2012. The company attributed this optimism to its diversified business model, its balanced growth strategies and its rigorous application of the Wabtec Performance System.


 
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



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