Hexcel (NYSE:HXL) Posts Quarterly Earnings Results, Hits Expectations

Hexcel (NYSE:HXL) posted its quarterly earnings results on Monday. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44, Briefing.com reports. Hexcel had a return on equity of 8.91% and a net margin of 5.52%. The business had revenue of $472.30 million for the quarter, compared to analyst estimates of $468.93 million. During the same period last year, the company earned $0.50 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. Hexcel updated its FY24 guidance to $2.10-$2.30 EPS.

Hexcel Stock Down 0.5 %

Shares of Hexcel stock traded down $0.33 during trading on Wednesday, reaching $63.24. The stock had a trading volume of 1,511,407 shares, compared to its average volume of 901,433. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 53.79, a P/E/G ratio of 1.30 and a beta of 1.23. The stock has a fifty day moving average price of $71.02 and a two-hundred day moving average price of $69.52. Hexcel has a 52 week low of $58.81 and a 52 week high of $79.08. The company has a current ratio of 2.74, a quick ratio of 1.68 and a debt-to-equity ratio of 0.41.

Hexcel Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, May 3rd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. Hexcel’s dividend payout ratio (DPR) is 51.28%.

Insider Activity

In related news, insider Gina Fitzsimons sold 864 shares of Hexcel stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the sale, the insider now owns 3,375 shares of the company’s stock, valued at $243,337.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Gina Fitzsimons sold 864 shares of Hexcel stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the sale, the insider now owns 3,375 shares of the company’s stock, valued at $243,337.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thierry Merlot sold 4,500 shares of Hexcel stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $71.63, for a total value of $322,335.00. Following the completion of the sale, the insider now directly owns 50,371 shares in the company, valued at approximately $3,608,074.73. The disclosure for this sale can be found here. Corporate insiders own 1.85% of the company’s stock.

Analyst Ratings Changes

HXL has been the topic of several recent research reports. UBS Group reduced their price target on Hexcel from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday. Truist Financial reduced their price target on Hexcel from $96.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Wells Fargo & Company raised their price target on Hexcel from $78.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Morgan Stanley lowered Hexcel from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $70.00 to $66.00 in a report on Thursday, February 22nd. Finally, BMO Capital Markets lifted their target price on Hexcel from $69.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $76.57.

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.