Hexcel (NYSE:HXL) Releases FY24 Earnings Guidance

Hexcel (NYSE:HXL) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.10-$2.30 for the period, compared to the consensus 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.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. 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 report on Thursday, February 22nd. Northcoast Research lowered Hexcel from a buy rating to a neutral rating in a research report on Wednesday, April 10th. Bank of America reiterated an underperform rating and issued a $65.00 price target (down from $75.00) on shares of Hexcel in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their price objective on shares of Hexcel from $78.00 to $81.00 and gave the company an equal weight rating in a report on Wednesday, February 21st. Finally, 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 report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Hexcel presently has a consensus rating of Hold and an average price target of $76.57.

Hexcel Stock Up 1.5 %

Shares of Hexcel stock traded up $0.94 during trading on Thursday, reaching $64.18. The stock had a trading volume of 1,749,229 shares, compared to its average volume of 914,187. The stock has a fifty day moving average price of $70.81 and a two-hundred day moving average price of $69.48. Hexcel has a 52 week low of $58.81 and a 52 week high of $79.08. The company has a market capitalization of $5.33 billion, a price-to-earnings ratio of 54.06, a P/E/G ratio of 1.32 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 0.44.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Monday, April 22nd. The aerospace company reported $0.44 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 for the quarter, compared to analyst estimates of $468.93 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts predict that Hexcel will post 2.22 EPS for the current fiscal year.

Hexcel Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, May 2nd. Hexcel’s dividend payout ratio (DPR) is 51.28%.

Insider Activity

In other 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 owns 50,371 shares of the company’s stock, valued at approximately $3,608,074.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Hexcel news, insider Gina Fitzsimons sold 864 shares of the firm’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 sale, the insider now directly owns 3,375 shares in the company, valued at $243,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thierry Merlot sold 4,500 shares of the company’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 value of $322,335.00. Following the completion of the transaction, the insider now directly owns 50,371 shares in the company, valued at approximately $3,608,074.73. The disclosure for this sale can be found here. 1.39% of the stock is currently owned by insiders.

About Hexcel

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.