Brokers Offer Predictions for Hexcel Co.’s FY2024 Earnings (NYSE:HXL)

Hexcel Co. (NYSE:HXL) – Equities researchers at Zacks Research lowered their FY2024 earnings estimates for shares of Hexcel in a research note issued to investors on Monday, October 7th. Zacks Research analyst R. Department now anticipates that the aerospace company will post earnings per share of $2.03 for the year, down from their previous forecast of $2.08. The consensus estimate for Hexcel’s current full-year earnings is $2.08 per share. Zacks Research also issued estimates for Hexcel’s Q4 2024 earnings at $0.54 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.68 EPS, Q4 2025 earnings at $0.75 EPS, FY2025 earnings at $2.54 EPS, Q1 2026 earnings at $0.60 EPS, Q2 2026 earnings at $0.82 EPS, Q3 2026 earnings at $0.78 EPS and FY2026 earnings at $3.06 EPS.

Several other research analysts also recently weighed in on HXL. Royal Bank of Canada downgraded Hexcel from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Truist Financial lowered their target price on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Morgan Stanley lowered their price target 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. Stifel Nicolaus reduced their price target on shares of Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Finally, UBS Group lowered their price objective on Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Monday, July 1st. 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.46.

Hexcel Price Performance

Shares of NYSE:HXL opened at $58.70 on Wednesday. The company has a market capitalization of $4.88 billion, a P/E ratio of 50.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29. The company’s 50-day moving average is $61.55 and its 200 day moving average is $64.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 2.75. Hexcel has a fifty-two week low of $57.50 and a fifty-two week high of $77.09.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. Hexcel’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share.

Hexcel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.02%. The ex-dividend date was Friday, August 2nd. Hexcel’s dividend payout ratio is currently 51.28%.

Hedge Funds Weigh In On Hexcel

Several hedge funds and other institutional investors have recently modified their holdings of HXL. Fidelis Capital Partners LLC purchased a new position in Hexcel in the first quarter worth about $36,000. Centerpoint Advisors LLC lifted its stake in shares of Hexcel by 44.6% in the 1st quarter. Centerpoint Advisors LLC now owns 723 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 223 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Hexcel in the first quarter worth approximately $54,000. GAMMA Investing LLC grew its position in Hexcel by 34.8% during the second quarter. GAMMA Investing LLC now owns 1,068 shares of the aerospace company’s stock valued at $67,000 after buying an additional 276 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Hexcel during the first quarter valued at approximately $119,000. 95.47% of the stock is owned by institutional investors.

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.