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 Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Morgan Stanley lowered Hexcel from an equal weight rating to an underweight rating and decreased their target price for the stock from $70.00 to $66.00 in a report on Thursday, February 22nd. Stifel Nicolaus decreased their price objective on Hexcel from $90.00 to $86.00 and set a buy rating on the stock in a report on Wednesday, April 17th. Truist Financial decreased their price objective on Hexcel from $96.00 to $90.00 and set a buy rating on the stock in a report on Friday. Bank of America reaffirmed an underperform rating and issued a $65.00 price objective (down from $75.00) on shares of Hexcel in a report on Wednesday, April 10th. Finally, Wells Fargo & Company upped their target price on Hexcel from $78.00 to $81.00 and gave the company an equal weight rating in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hexcel has an average rating of Hold and an average target price of $76.50.

Hexcel Trading Up 1.3 %

NYSE HXL opened at $62.53 on Tuesday. The business has a 50 day simple moving average of $71.17 and a 200 day simple moving average of $69.55. Hexcel has a one year low of $58.81 and a one year high of $79.08. The stock has a market capitalization of $5.20 billion, a P/E ratio of 50.43, a P/E/G ratio of 1.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.74 and a quick ratio of 1.68.

Hexcel (NYSE:HXL) last released its quarterly earnings data on Monday, April 22nd. The aerospace company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $472.30 million for the quarter, compared to the consensus estimate of $468.93 million. Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. Research analysts expect that Hexcel will post 2.22 earnings per share for the current year.

Hexcel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, May 3rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. Hexcel’s dividend payout ratio is 48.39%.

Insider Activity

In other 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 owns 50,371 shares in the company, valued at $3,608,074.73. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Thierry Merlot sold 4,500 shares of Hexcel 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 transaction, the insider now owns 50,371 shares of the company’s stock, valued at $3,608,074.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gina Fitzsimons sold 864 shares of Hexcel stock in a transaction that occurred 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 transaction, the insider now directly owns 3,375 shares in the company, valued at approximately $243,337.50. The disclosure for this sale can be found here. Corporate insiders own 1.85% of the company’s stock.

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.