Hexcel (NYSE:HXL) Updates FY 2024 Earnings Guidance

Hexcel (NYSE:HXL) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 2.020-2.020 for the period, compared to the consensus earnings per share estimate of 2.050. The company issued revenue guidance of $1.9 billion-$1.9 billion, compared to the consensus revenue estimate of $1.9 billion. Hexcel also updated its FY24 guidance to $2.02-$2.18 EPS.

Hexcel Trading Down 2.6 %

Shares of Hexcel stock opened at $62.70 on Thursday. The stock 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. Hexcel has a 52-week low of $57.50 and a 52-week high of $77.09. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 2.75. The stock’s 50-day simple moving average is $61.65 and its 200 day simple moving average is $64.28.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $457.00 million for 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 company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. As a group, research analysts anticipate that Hexcel will post 2.05 EPS for the current year.

Hexcel Announces Dividend

The business 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. The ex-dividend date is Friday, November 1st. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. Hexcel’s dividend payout ratio is currently 51.28%.

Analyst Ratings Changes

A number of analysts recently issued reports on HXL shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Hexcel from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Truist Financial lowered their price target on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, October 18th. StockNews.com raised shares of Hexcel from a “hold” rating to a “buy” rating in a research note on Wednesday. BMO Capital Markets decreased their target price on shares of Hexcel from $71.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, September 30th. Finally, Morgan Stanley cut their price target on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $71.77.

Hexcel Company Profile

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.