Hexcel (NYSE:HXL) Releases FY24 Earnings Guidance

Hexcel (NYSE:HXL) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.02-$2.18 for the period, compared to the consensus estimate of $2.04. The company issued revenue guidance of $1.90-$1.98 billion, compared to the consensus revenue estimate of $1.92 billion. Hexcel also updated its FY 2024 guidance to 2.020-2.020 EPS.

Wall Street Analyst Weigh In

HXL has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, July 1st. Morgan Stanley reduced their price objective 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. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Hexcel from $65.00 to $62.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Vertical Research lowered Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Thursday, October 10th. Finally, Royal Bank of Canada downgraded Hexcel from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $76.00 to $68.00 in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.08.

Hexcel Stock Performance

Shares of HXL opened at $64.36 on Wednesday. The company’s 50 day simple moving average is $61.59 and its 200-day simple moving average is $64.34. Hexcel has a 12-month low of $57.50 and a 12-month high of $77.09. The firm has a market cap of $5.35 billion, a PE ratio of 55.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL) last posted its quarterly earnings data on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The company had revenue of $457.00 million for the quarter, compared to analyst estimates of $457.07 million. During the same period in the previous year, the business posted $0.38 earnings per share. Hexcel’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities analysts predict that Hexcel will post 2.05 EPS for the current year.

Hexcel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, November 1st will be paid a $0.15 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.60 annualized dividend and a dividend yield of 0.93%. Hexcel’s dividend payout ratio (DPR) is currently 51.28%.

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.