Hexcel (NYSE:HXL) Posts Earnings Results, Beats Estimates By $0.01 EPS

Hexcel (NYSE:HXL) posted its quarterly earnings results on Monday. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01, Briefing.com reports. The business had revenue of $457.00 million during the quarter, compared to analyst estimates of $457.07 million. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. Hexcel updated its FY24 guidance to $2.02-$2.18 EPS and its FY 2024 guidance to 2.020-2.020 EPS.

Hexcel Stock Performance

HXL stock opened at $62.70 on Thursday. Hexcel has a twelve month low of $57.50 and a twelve month high of $77.09. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 0.51. The company has a market cap of $5.21 billion, a P/E ratio of 53.59, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. The business’s fifty day moving average is $61.65 and its 200-day moving average is $64.28.

Hexcel Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, November 1st. Hexcel’s payout ratio is 51.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus cut their price target on Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a research report on Wednesday. UBS Group lowered their price objective on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, July 1st. Royal Bank of Canada lowered shares of Hexcel from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $76.00 to $68.00 in a research report on Wednesday, August 14th. Finally, Vertical Research downgraded Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.