Hexcel (NYSE:HXL) Announces Earnings Results

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

Hexcel Stock Up 1.6 %

Shares of NYSE:HXL opened at $63.54 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 2.74. Hexcel has a 1 year low of $58.81 and a 1 year high of $79.08. The stock has a market capitalization of $5.28 billion, a P/E ratio of 54.31, a PEG ratio of 1.30 and a beta of 1.23. The stock has a 50-day simple moving average of $71.02 and a 200-day simple moving average of $69.52.

Hexcel Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, May 2nd. Hexcel’s payout ratio is currently 51.28%.

Insider Transactions at Hexcel

In other news, insider Thierry Merlot sold 4,500 shares of the business’s stock in a transaction dated 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 approximately $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. In related news, insider Thierry Merlot sold 4,500 shares of the company’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 sale, the insider now directly owns 50,371 shares of the company’s stock, valued at approximately $3,608,074.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gina Fitzsimons sold 864 shares of the company’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 value of $62,294.40. Following the sale, the insider now directly owns 3,375 shares in the company, valued at $243,337.50. The disclosure for this sale can be found here. Company insiders own 1.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on HXL. The Goldman Sachs Group lifted their price target on Hexcel from $69.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Bank of America reaffirmed an “underperform” rating and set a $65.00 price target (down previously from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price target on shares of Hexcel in a research note on Wednesday, February 21st. BMO Capital Markets lifted their price objective on Hexcel from $69.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Finally, UBS Group cut Hexcel from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $87.00 to $72.00 in a research report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Hexcel currently has a consensus rating of “Hold” and a consensus price target of $76.50.

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.