Hexcel (NYSE:HXL) Updates FY 2024 Earnings Guidance

Hexcel (NYSE:HXL) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.020-2.020 for the period, compared to the consensus earnings per share estimate of 2.050. The company issued revenue guidance of $1.9 billion-$1.9 billion, compared to the consensus revenue estimate of $1.9 billion. Hexcel also updated its FY24 guidance to $2.02-$2.18 EPS.

Hexcel Price Performance

Shares of HXL traded up $0.88 during mid-day trading on Monday, hitting $63.60. 1,060,702 shares of the company traded hands, compared to its average volume of 866,001. Hexcel has a one year low of $57.50 and a one year high of $77.09. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average of $61.54 and a 200 day moving average of $64.40. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 54.50, a PEG ratio of 1.38 and a beta of 1.29.

Hexcel (NYSE:HXL) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The business had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. During the same period in the prior year, the business posted $0.50 earnings per share. Hexcel’s revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts expect that Hexcel will post 2.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HXL. BMO Capital Markets cut their price objective on shares of Hexcel from $71.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, September 30th. UBS Group cut their price objective on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Truist Financial cut their price objective on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley cut their target price on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Finally, Stifel Nicolaus cut their target price on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.08.

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.