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

Hexcel (NYSE:HXL) released its quarterly earnings results on Thursday. The aerospace company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $500.40 million during the quarter, compared to analysts’ expectations of $484.26 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. 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

Shares of NYSE HXL opened at $62.81 on Friday. Hexcel has a 1 year low of $58.81 and a 1 year high of $77.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.75. The company’s fifty day moving average price is $66.57 and its 200 day moving average price is $69.01. The company has a market capitalization of $5.22 billion, a PE ratio of 53.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.28.

Hexcel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, August 2nd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, August 2nd. Hexcel’s dividend payout ratio is currently 51.28%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HXL. BMO Capital Markets decreased their price objective on shares of Hexcel from $73.00 to $71.00 and set a “market perform” rating for the company in a research report on Friday. Wells Fargo & Company upgraded shares of Hexcel from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $81.00 to $95.00 in a research note on Wednesday, May 8th. Stifel Nicolaus cut their target price on Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Bank of America restated an “underperform” rating and issued a $65.00 target price (down previously from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. Finally, Truist Financial cut their price objective on Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.07.

Insiders Place Their Bets

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