Hexcel (NYSE:HXL) Releases FY24 Earnings Guidance

Hexcel (NYSE:HXL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.02-2.18 for the period, compared to the consensus estimate of $2.20. The company issued revenue guidance of $1.90-1.98 billion, compared to the consensus revenue estimate of $1.95 billion. Hexcel also updated its FY 2024 guidance to 2.020-2.180 EPS.

Hexcel Stock Performance

Shares of HXL stock opened at $62.80 on Friday. The company has a current ratio of 2.75, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average price of $66.57 and a 200 day moving average price of $69.03. The company has a market cap of $5.22 billion, a P/E ratio of 53.68, a PEG ratio of 1.25 and a beta of 1.28. Hexcel has a 12 month low of $58.81 and a 12 month high of $77.09.

Hexcel (NYSE:HXL) last issued its earnings results on Thursday, July 18th. The aerospace company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The firm had revenue of $500.40 million during the quarter, compared to the consensus estimate of $484.26 million. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Sell-side analysts predict that Hexcel will post 2.15 earnings per share for the current fiscal year.

Hexcel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, August 2nd will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. Hexcel’s dividend payout ratio (DPR) is presently 51.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HXL. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Hexcel from $70.00 to $68.00 and set a hold rating for the company in a report on Friday, June 28th. Wells Fargo & Company raised shares of Hexcel from an equal weight rating to an overweight rating and upped their target price for the company from $81.00 to $95.00 in a report on Wednesday, May 8th. Northcoast Research cut shares of Hexcel from a buy rating to a neutral rating in a report on Wednesday, April 10th. Stifel Nicolaus reduced their target price on shares of Hexcel from $86.00 to $84.00 and set a buy rating for the company in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $76.00 target price on shares of Hexcel in a report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hexcel has a consensus rating of Hold and an average target price of $76.07.

Insiders Place Their Bets

In related news, Director Catherine A. Suever purchased 400 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $68.33 per share, with a total value of $27,332.00. Following the completion of the purchase, the director now directly owns 15,748 shares in the company, valued at approximately $1,076,060.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Catherine A. Suever purchased 400 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $68.33 per share, with a total value of $27,332.00. Following the completion of the purchase, the director now directly owns 15,748 shares in the company, valued at approximately $1,076,060.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey C. Campbell purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average cost of $64.13 per share, with a total value of $641,300.00. Following the completion of the transaction, the director now owns 17,803 shares in the company, valued at approximately $1,141,706.39. The disclosure for this purchase can be found here. Insiders have purchased a total of 43,400 shares of company stock valued at $2,820,322 over the last quarter. Company insiders own 1.39% of the company’s stock.

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.