Hexcel (NYSE:HXL) Posts Quarterly Earnings Results, Hits Expectations

Hexcel (NYSE:HXL) released its quarterly earnings data on Monday. The aerospace company reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44, Briefing.com reports. The firm had revenue of $472.30 million for the quarter, compared to analyst estimates of $468.93 million. Hexcel had a net margin of 5.52% and a return on equity of 8.97%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. Hexcel updated its FY24 guidance to $2.10-$2.30 EPS.

Hexcel Trading Down 0.5 %

Hexcel stock opened at $63.25 on Thursday. The business’s 50-day simple moving average is $70.81 and its 200-day simple moving average is $69.48. Hexcel has a 52 week low of $58.81 and a 52 week high of $79.08. The firm has a market capitalization of $5.26 billion, a PE ratio of 54.06, a PEG ratio of 1.32 and a beta of 1.23. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.68 and a current ratio of 2.74.

Hexcel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, May 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, May 2nd. Hexcel’s dividend payout ratio (DPR) is 51.28%.

Insider Buying and Selling at Hexcel

In other news, insider Gina Fitzsimons sold 864 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the completion of the sale, the insider now directly owns 3,375 shares of the company’s stock, valued at $243,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total transaction of $62,294.40. Following the completion of the transaction, the insider now owns 3,375 shares of the company’s stock, valued at $243,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thierry Merlot sold 4,500 shares of Hexcel stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $71.63, for a total value of $322,335.00. Following the sale, the insider now directly owns 50,371 shares in the company, valued at $3,608,074.73. The disclosure for this sale can be found here. Insiders own 1.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HXL. Wells Fargo & Company increased their price objective on Hexcel from $78.00 to $81.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. BMO Capital Markets raised their price target on Hexcel from $69.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, February 22nd. Stifel Nicolaus lowered their price target on Hexcel from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Morgan Stanley lowered shares of Hexcel from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $70.00 to $66.00 in a research report on Thursday, February 22nd. Finally, Truist Financial dropped their price target on shares of Hexcel from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $76.57.

Hexcel Company Profile

Hexcel Corporation develops, manufactures, and markets carbon fibers, structural reinforcements, honeycomb structures, resins, and composite materials and parts for use in commercial aerospace, space and defense, and industrial applications. It operates through two segments, Composite Materials and Engineered Products.