Hexcel (NYSE:HXL – Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $2.02-$2.18 for the period, compared to the consensus earnings per share 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.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. UBS Group cut their price objective on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, July 1st. Morgan Stanley lowered their price target on Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. Stifel Nicolaus cut their price objective on Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. BMO Capital Markets decreased their target price on Hexcel from $71.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft decreased 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. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $73.08.
Check Out Our Latest Stock Report on Hexcel
Hexcel Price Performance
Hexcel Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, November 1st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. Hexcel’s payout ratio is presently 51.28%.
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.
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