Hexcel (NYSE:HXL) Releases FY24 Earnings Guidance

Hexcel (NYSE:HXLGet Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.10-2.30 for the period, compared to the consensus EPS estimate of $2.23. The company issued revenue guidance of $1.925-2.025 billion, compared to the consensus revenue estimate of $1.98 billion. Hexcel also updated its FY 2024 guidance to 2.100-2.300 EPS.

Hexcel Price Performance

Shares of HXL stock opened at $63.71 on Friday. The firm has a market cap of $5.29 billion, a P/E ratio of 51.38, a P/E/G ratio of 1.29 and a beta of 1.23. Hexcel has a fifty-two week low of $58.81 and a fifty-two week high of $79.08. The business’s 50 day moving average price is $72.39 and its 200-day moving average price is $69.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 2.74.

Hexcel (NYSE:HXLGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $457.50 million during the quarter, compared to the consensus estimate of $474.01 million. Hexcel had a return on equity of 9.31% and a net margin of 5.91%. Hexcel’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, equities research analysts anticipate that Hexcel will post 2.23 earnings per share for the current year.

Hexcel Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, February 8th. This is a positive change from Hexcel’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. Hexcel’s payout ratio is currently 48.39%.

Analyst Ratings Changes

Several research firms recently weighed in on HXL. Royal Bank of Canada restated an outperform rating and set a $80.00 price target on shares of Hexcel in a research report on Wednesday, February 21st. Wells Fargo & Company lifted their price target on Hexcel from $78.00 to $81.00 and gave the company an equal weight rating in a research report on Wednesday, February 21st. Truist Financial upgraded Hexcel from a hold rating to a buy rating and lifted their price target for the company from $62.00 to $96.00 in a research report on Wednesday, January 10th. The Goldman Sachs Group upgraded Hexcel from a sell rating to a neutral rating and lifted their price target for the company from $57.00 to $70.00 in a research report on Wednesday, January 10th. Finally, Northcoast Research lowered Hexcel from a buy rating to a neutral rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $76.57.

Check Out Our Latest Stock Analysis on HXL

Insider Transactions at Hexcel

In other news, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the completion of the transaction, the insider now owns 3,375 shares of the company’s stock, valued at $243,337.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Gina Fitzsimons sold 864 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the sale, the insider now directly owns 3,375 shares in the company, valued at $243,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thierry Merlot sold 4,500 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $71.63, for a total value of $322,335.00. Following the completion of the sale, the insider now owns 50,371 shares in the company, valued at $3,608,074.73. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On Hexcel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning purchased a new stake in Hexcel during the third quarter valued at approximately $30,000. Point72 Asset Management L.P. purchased a new stake in Hexcel during the second quarter valued at approximately $31,000. Belpointe Asset Management LLC raised its holdings in shares of Hexcel by 45.2% in the first quarter. Belpointe Asset Management LLC now owns 784 shares of the aerospace company’s stock worth $53,000 after buying an additional 244 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of Hexcel in the second quarter worth approximately $98,000. Finally, KBC Group NV purchased a new stake in shares of Hexcel in the fourth quarter worth approximately $122,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Hexcel Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Hexcel (NYSE:HXL)

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