Hexcel (NYSE:HXL) Issues FY24 Earnings Guidance

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

HXL has been the subject of a number of research analyst reports. Northcoast Research downgraded shares of Hexcel from a buy rating to a neutral rating in a report on Wednesday, April 10th. Bank of America reissued an underperform rating and issued a $65.00 price target (down from $75.00) on shares of Hexcel in a report on Wednesday, April 10th. StockNews.com downgraded shares of Hexcel from a buy rating to a hold rating in a report on Saturday, February 3rd. Royal Bank of Canada reaffirmed an outperform rating and set a $80.00 price objective on shares of Hexcel in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus reduced their price objective on shares of Hexcel from $90.00 to $86.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently 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 stock’s 50 day moving average price is $71.17 and its 200 day moving average price is $69.55. Hexcel has a 52 week low of $58.81 and a 52 week high of $79.08. The company has a market capitalization of $5.20 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 quick ratio of 1.68 and a current ratio of 2.74.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Monday, April 22nd. The aerospace company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.01). Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The company had revenue of $472.30 million for the quarter, compared to analyst estimates of $468.93 million. During the same quarter last year, the business earned $0.50 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, research analysts forecast that Hexcel will post 2.22 EPS for the current fiscal year.

Hexcel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, May 3rd will be given a $0.15 dividend. 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 stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $71.63, for a total value of $322,335.00. Following the completion of the sale, the insider now directly owns 50,371 shares of the company’s stock, valued at $3,608,074.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Gina Fitzsimons sold 864 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value 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 disclosure for this sale can be found here. 1.85% of the stock is owned by company 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.