Hexcel (NYSE:HXL) Updates FY24 Earnings Guidance

Hexcel (NYSE:HXL) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $2.10-$2.30 for the period, compared to the consensus EPS estimate of $2.21. The company issued revenue guidance of $1.925-$2.025 billion, compared to the consensus revenue estimate of $1.97 billion.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HXL. Royal Bank of Canada reaffirmed an outperform rating and set a $80.00 price objective on shares of Hexcel in a research report on Wednesday, February 21st. UBS Group cut their price target on Hexcel from $77.00 to $73.00 and set a neutral rating for the company in a research note on Wednesday. Northcoast Research cut shares of Hexcel from a buy rating to a neutral rating in a research note on Wednesday, April 10th. Wells Fargo & Company raised their target price on Hexcel from $78.00 to $81.00 and gave the stock an equal weight rating in a report on Wednesday, February 21st. Finally, BMO Capital Markets boosted their price target on Hexcel from $69.00 to $73.00 and gave the company a market perform rating in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $76.57.

Hexcel Stock Up 1.5 %

NYSE:HXL traded up $0.94 during midday trading on Thursday, reaching $64.18. 1,749,229 shares of the stock traded hands, compared to its average volume of 914,187. The business has a 50-day moving average of $70.81 and a two-hundred day moving average of $69.48. Hexcel has a 12-month low of $58.81 and a 12-month high of $79.08. The stock has a market capitalization of $5.33 billion, a PE ratio of 54.06, a price-to-earnings-growth 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 (NYSE:HXL) last posted its quarterly earnings results on Monday, April 22nd. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. Hexcel had a net margin of 5.52% and a return on equity of 8.97%. The business had revenue of $472.30 million during the quarter, compared to analysts’ expectations of $468.93 million. During the same quarter last year, the company posted $0.50 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis. On average, equities analysts forecast that Hexcel will post 2.22 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, May 3rd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Thursday, May 2nd. Hexcel’s dividend payout ratio is presently 51.28%.

Insider Transactions at Hexcel

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

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.