Hexcel (NYSE:HXL) Issues FY24 Earnings Guidance

Hexcel (NYSE:HXL) issued an update on its FY24 earnings guidance on Monday morning. 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.

Hexcel Trading Up 1.6 %

NYSE:HXL opened at $63.54 on Wednesday. The stock has a market cap of $5.28 billion, a PE ratio of 54.31, a price-to-earnings-growth ratio of 1.30 and a beta of 1.23. Hexcel has a fifty-two week low of $58.81 and a fifty-two week high of $79.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.74 and a quick ratio of 1.68. The stock’s 50-day moving average is $71.02 and its two-hundred day moving average is $69.52.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $0.44 EPS for the quarter, meeting analysts’ consensus estimates of $0.44. Hexcel had a net margin of 5.52% and a return on equity of 8.91%. The firm had revenue of $472.30 million for the quarter, compared to the consensus estimate of $468.93 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Hexcel will post 2.22 earnings per share for the current fiscal year.

Hexcel Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on HXL. Northcoast Research lowered Hexcel from a buy rating to a neutral rating in a research report on Wednesday, April 10th. The Goldman Sachs Group increased their price objective on Hexcel from $69.00 to $78.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Barclays reduced their target price on shares of Hexcel from $80.00 to $75.00 and set an equal weight rating for the company in a research note on Tuesday, January 30th. Morgan Stanley lowered shares of Hexcel from an equal weight rating to an underweight rating and dropped their price target for the stock from $70.00 to $66.00 in a research note on Thursday, February 22nd. Finally, Bank of America reaffirmed an underperform rating and issued a $65.00 price objective (down previously from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $76.50.

Insider Transactions at Hexcel

In related news, insider Gina Fitzsimons sold 864 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was 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 owns 3,375 shares in the company, valued at approximately $243,337.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction 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 in the company, valued at approximately $243,337.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thierry Merlot sold 4,500 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. 1.85% of the stock is currently owned by corporate 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.