Hexcel (NYSE:HXL) Announces Quarterly Earnings Results

Hexcel (NYSE:HXL) announced its quarterly earnings data on Monday. The aerospace company reported $0.47 earnings per share (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 quarter last year, the business posted $0.38 EPS. The business’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 Trading Up 1.2 %

Shares of Hexcel stock opened at $64.36 on Wednesday. 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 company has a market capitalization of $5.35 billion, a P/E ratio of 55.01, a PEG ratio of 1.38 and a beta of 1.29. Hexcel has a 1 year low of $57.50 and a 1 year high of $77.09. The company’s fifty day moving average is $61.64 and its two-hundred day moving average is $64.29.

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, November 1st will be given a $0.15 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.60 annualized dividend and a yield of 0.93%. Hexcel’s dividend payout ratio (DPR) is 51.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada downgraded 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 note on Wednesday, August 14th. UBS Group reduced their price objective on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Truist Financial lowered their target price on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Vertical Research cut Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Thursday, October 10th. Finally, BMO Capital Markets lowered their price objective on Hexcel from $71.00 to $70.00 and set a “market perform” rating for the company in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Hexcel currently has a consensus rating of “Hold” and a consensus target price of $73.08.

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.