Hexcel (NYSE:HXL) Releases FY24 Earnings Guidance

Hexcel (NYSE:HXL) updated its FY24 earnings guidance on Monday. 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 Trading Down 2.6 %

Shares of NYSE:HXL opened at $62.70 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.75 and a quick ratio of 1.55. The firm has a market capitalization of $5.21 billion, a P/E ratio of 53.59, a P/E/G ratio of 1.38 and a beta of 1.29. The business’s 50-day moving average is $61.65 and its 200 day moving average is $64.28. Hexcel has a 1 year low of $57.50 and a 1 year high of $77.09.

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

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, November 1st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, November 1st. Hexcel’s dividend payout ratio is presently 51.28%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Vertical Research lowered shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research note on Thursday, October 10th. Stifel Nicolaus cut their price target on Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Hexcel from $65.00 to $62.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. BMO Capital Markets dropped their target price on Hexcel from $71.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, September 30th. Finally, Wells Fargo & Company boosted their price target on Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Hexcel presently has a consensus rating of “Hold” and a consensus target price of $71.77.

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.