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.

Hexcel Price Performance

Shares of NYSE:HXL opened at $64.36 on Wednesday. Hexcel has a 52 week low of $57.50 and a 52 week high of $77.09. The company has a 50-day moving average price of $61.59 and a 200 day moving average price of $64.34. The company has a market cap of $5.35 billion, a P/E ratio of 55.01, a PEG ratio of 1.38 and a beta of 1.29. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The business had revenue of $457.00 million during the quarter, compared to analysts’ expectations of $457.07 million. During the same period last year, the firm earned $0.38 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Research analysts predict that Hexcel will post 2.05 earnings per share for the current year.

Hexcel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, November 1st will be issued a $0.15 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.93%. Hexcel’s dividend payout ratio is presently 51.28%.

Analyst Upgrades and Downgrades

HXL has been the topic of a number of research analyst reports. Truist Financial decreased 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, October 18th. Royal Bank of Canada cut Hexcel from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $76.00 to $68.00 in a report on Wednesday, August 14th. Stifel Nicolaus reduced their price objective on Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Morgan Stanley lowered their target price on Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Finally, UBS Group dropped their price target on Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.08.

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.