Hexcel (NYSE:HXL) Releases FY 2024 Earnings Guidance

Hexcel (NYSE:HXL) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.020-2.020 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HXL shares. BMO Capital Markets dropped their target price on shares of Hexcel from $71.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Hexcel from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. UBS Group reduced their target price on Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday, July 1st. Truist Financial dropped their price target on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Royal Bank of Canada lowered Hexcel from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $76.00 to $68.00 in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hexcel currently has an average rating of “Hold” and an average target price of $73.08.

Hexcel Stock Performance

NYSE:HXL traded up $0.88 during trading hours on Monday, reaching $63.60. The company had a trading volume of 1,068,527 shares, compared to its average volume of 866,040. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.75 and a quick ratio of 1.55. Hexcel has a 1-year low of $57.50 and a 1-year high of $77.09. The business’s 50 day moving average price is $61.54 and its 200-day moving average price is $64.40. The firm has a market cap of $5.29 billion, a PE ratio of 54.50, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29.

Hexcel (NYSE:HXL) last posted its earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $500.40 million during the quarter, compared to analysts’ expectations of $484.26 million. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 EPS. Research analysts forecast that Hexcel will post 2.05 EPS for the current year.

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.