Hexcel (NYSE:HXL) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Hexcel (NYSE:HXL) announced its earnings results on Thursday. The aerospace company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04, RTT News reports. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The business had revenue of $500.40 million during the quarter, compared to analysts’ expectations of $484.26 million. During the same quarter last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Hexcel updated its FY 2024 guidance to 2.020-2.180 EPS and its FY24 guidance to $2.02-2.18 EPS.

Hexcel Stock Performance

HXL opened at $62.81 on Friday. The stock has a market cap of $5.22 billion, a PE ratio of 53.68, a P/E/G ratio of 1.25 and a beta of 1.28. The company has a current ratio of 2.75, a quick ratio of 1.51 and a debt-to-equity ratio of 0.51. Hexcel has a 1 year low of $58.81 and a 1 year high of $77.09. The stock’s 50 day simple moving average is $66.57 and its 200-day simple moving average is $69.01.

Hexcel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, August 2nd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, August 2nd. Hexcel’s dividend payout ratio is presently 51.28%.

Analyst Ratings Changes

A number of research firms recently weighed in on HXL. Stifel Nicolaus decreased their price target on Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Bank of America reiterated an “underperform” rating and issued a $65.00 price target (down previously from $75.00) on shares of Hexcel in a research report on Wednesday, April 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $76.00 price objective on shares of Hexcel in a research note on Friday, June 14th. 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 research note on Tuesday, April 16th. Finally, Wells Fargo & Company raised Hexcel from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $81.00 to $95.00 in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned 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 $76.07.

Insider Activity

In other news, CEO Nick L. Stanage acquired 15,000 shares of the stock in a transaction dated Friday, April 26th. The shares were acquired at an average cost of $64.29 per share, for a total transaction of $964,350.00. Following the completion of the transaction, the chief executive officer now owns 392,446 shares in the company, valued at approximately $25,230,353.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hexcel news, Director Jeffrey C. Campbell acquired 10,000 shares of Hexcel stock in a transaction on Thursday, April 25th. The shares were bought at an average price of $64.13 per share, with a total value of $641,300.00. Following the completion of the purchase, the director now owns 17,803 shares in the company, valued at $1,141,706.39. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Nick L. Stanage purchased 15,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were purchased at an average cost of $64.29 per share, for a total transaction of $964,350.00. Following the purchase, the chief executive officer now directly owns 392,446 shares of the company’s stock, valued at $25,230,353.34. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 43,400 shares of company stock worth $2,820,322. Company insiders own 1.39% 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.