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

Hexcel (NYSE:HXL) posted its quarterly earnings results on Monday. The aerospace company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01, Briefing.com reports. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The business had revenue of $457.00 million during the quarter, compared to analysts’ expectations of $457.07 million. During the same period last year, the firm earned $0.38 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. 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

NYSE:HXL opened at $63.61 on Tuesday. The company has a market cap of $5.29 billion, a P/E ratio of 54.37, a P/E/G ratio of 1.38 and a beta of 1.29. The firm’s 50 day moving average is $61.54 and its two-hundred day moving average is $64.40. Hexcel has a fifty-two week low of $57.50 and a fifty-two week 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.

Hexcel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, November 1st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. Hexcel’s payout ratio is 51.28%.

Analysts Set New Price Targets

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

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.