Zacks Research Weighs in on Hexcel Co.’s Q3 2024 Earnings (NYSE:HXL)

Hexcel Co. (NYSE:HXL) – Investment analysts at Zacks Research decreased their Q3 2024 earnings estimates for shares of Hexcel in a report issued on Thursday, August 8th. Zacks Research analyst R. Department now forecasts that the aerospace company will earn $0.45 per share for the quarter, down from their prior estimate of $0.52. The consensus estimate for Hexcel’s current full-year earnings is $2.09 per share. Zacks Research also issued estimates for Hexcel’s Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $2.08 EPS, Q1 2025 earnings at $0.50 EPS, Q2 2025 earnings at $0.72 EPS, Q3 2025 earnings at $0.65 EPS and FY2025 earnings at $2.66 EPS.

Hexcel (NYSE:HXL) last released its earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The company had revenue of $500.40 million for the quarter, compared to the consensus estimate of $484.26 million. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue was up 10.1% compared to the same quarter last year.

A number of other analysts also recently weighed in on HXL. Wells Fargo & Company upgraded shares of Hexcel from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $81.00 to $95.00 in a research report on Wednesday, May 8th. UBS Group cut their price target on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. Morgan Stanley cut their price target on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, Truist Financial lowered their target price on Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.71.

Hexcel Stock Performance

Shares of NYSE:HXL opened at $61.95 on Monday. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 52.95, a P/E/G ratio of 1.40 and a beta of 1.28. The firm’s 50 day simple moving average is $64.07 and its 200 day simple moving average is $68.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.75 and a quick ratio of 1.55. Hexcel has a fifty-two week low of $58.81 and a fifty-two week high of $77.09.

Hedge Funds Weigh In On Hexcel

Several hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC grew its stake in shares of Hexcel by 0.3% during the 4th quarter. Corient Private Wealth LLC now owns 53,624 shares of the aerospace company’s stock worth $3,955,000 after acquiring an additional 143 shares in the last quarter. Summit Financial LLC grew its stake in shares of Hexcel by 2.9% in the second quarter. Summit Financial LLC now owns 5,357 shares of the aerospace company’s stock valued at $335,000 after buying an additional 153 shares in the last quarter. Xponance Inc. grew its stake in shares of Hexcel by 1.8% in the fourth quarter. Xponance Inc. now owns 10,251 shares of the aerospace company’s stock valued at $756,000 after buying an additional 178 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Hexcel by 2.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,440 shares of the aerospace company’s stock valued at $542,000 after buying an additional 182 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Hexcel by 6.9% in the first quarter. Bleakley Financial Group LLC now owns 2,915 shares of the aerospace company’s stock valued at $212,000 after buying an additional 187 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

Hexcel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were paid a dividend of $0.15 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.60 annualized dividend and a dividend yield of 0.97%. Hexcel’s dividend payout ratio is currently 51.28%.

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.