Hexcel (NYSE:HXL) Issues Earnings Results

Hexcel (NYSE:HXL) issued its quarterly earnings data on Monday. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44, Briefing.com reports. Hexcel had a net margin of 5.52% and a return on equity of 8.91%. The business had revenue of $472.30 million during the quarter, compared to the consensus estimate of $468.93 million. During the same period in the prior year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. Hexcel updated its FY24 guidance to $2.10-$2.30 EPS.

Hexcel Trading Up 1.6 %

Shares of HXL opened at $63.54 on Wednesday. The firm’s 50-day moving average price is $71.02 and its 200-day moving average price is $69.52. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 54.31, a PEG ratio of 1.30 and a beta of 1.23. The company has a current ratio of 2.74, a quick ratio of 1.68 and a debt-to-equity ratio of 0.41. Hexcel has a 1-year low of $58.81 and a 1-year high of $79.08.

Hexcel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, May 2nd. Hexcel’s payout ratio is 51.28%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Hexcel from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Bank of America reiterated an “underperform” rating and issued a $65.00 target price (down from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. The Goldman Sachs Group increased their target price on shares of Hexcel from $69.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Barclays lowered their target price on shares of Hexcel from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 target price on shares of Hexcel in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $76.50.

Insider Activity at Hexcel

In other Hexcel news, insider Thierry Merlot sold 4,500 shares of Hexcel stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $71.63, for a total value of $322,335.00. Following the completion of the transaction, the insider now directly owns 50,371 shares of the company’s stock, valued at $3,608,074.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gina Fitzsimons sold 864 shares of the business’s stock in a transaction that occurred on 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 directly owns 3,375 shares of the company’s stock, valued at $243,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thierry Merlot sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $71.63, for a total transaction of $322,335.00. Following the transaction, the insider now directly owns 50,371 shares of the company’s stock, valued at $3,608,074.73. The disclosure for this sale can be found here. 1.85% of the stock is currently owned by corporate insiders.

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.