Hexcel (NYSE:HXL) Releases 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 Stock Up 1.3 %

Shares of NYSE:HXL traded up $0.81 during midday trading on Monday, reaching $62.52. The company had a trading volume of 1,335,719 shares, compared to its average volume of 871,640. 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 fifty day moving average price is $71.37 and its 200-day moving average price is $69.58. The stock has a market capitalization of $5.20 billion, a P/E ratio of 50.41, a PEG ratio of 1.28 and a beta of 1.23. Hexcel has a one year low of $58.81 and a one year high of $79.08.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Thursday, January 25th. The aerospace company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $457.50 million during the quarter, compared to the consensus estimate of $474.01 million. Hexcel had a return on equity of 9.31% and a net margin of 5.91%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. Equities research analysts expect that Hexcel will post 2.22 earnings per share for the current fiscal year.

Hexcel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were paid a dividend of $0.15 per share. This is a positive change from Hexcel’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, February 8th. This represents a $0.60 annualized dividend and a yield of 0.96%. Hexcel’s payout ratio is presently 48.39%.

Analysts Set New Price Targets

Several analysts have weighed in on HXL shares. Morgan Stanley lowered shares of Hexcel from an equal weight rating to an underweight rating and lowered their target price for the company from $70.00 to $66.00 in a research note on Thursday, February 22nd. Royal Bank of Canada reiterated an outperform rating and set a $80.00 target price on shares of Hexcel in a research note on Wednesday, February 21st. Northcoast Research lowered shares of Hexcel from a buy rating to a neutral rating in a research note on Wednesday, April 10th. UBS Group lowered shares of Hexcel from a buy rating to a neutral rating and lowered their target price for the company from $87.00 to $72.00 in a research note on Tuesday, January 30th. Finally, Wells Fargo & Company boosted their target price on shares of Hexcel from $78.00 to $81.00 and gave the company an equal weight rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $76.50.

Insider Buying and Selling

In related news, insider Thierry Merlot sold 4,500 shares of the company’s 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 sale, the insider now owns 50,371 shares of the company’s stock, valued at $3,608,074.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hexcel news, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total value of $62,294.40. Following the completion of the sale, the insider now directly owns 3,375 shares of the company’s stock, valued at approximately $243,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $322,335.00. Following the sale, the insider now owns 50,371 shares in the company, valued at approximately $3,608,074.73. The disclosure for this sale can be found here. Corporate insiders own 1.85% of the company’s stock.

Hexcel Company Profile

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.