Hexcel (NYSE:HXL) Posts Earnings Results, Beats Estimates By $0.04 EPS

Hexcel (NYSE:HXL) announced its earnings results on Thursday. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04, RTT News reports. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The firm had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Hexcel updated its FY 2024 guidance to 2.020-2.180 EPS and its FY24 guidance to $2.02-2.18 EPS.

Hexcel Stock Performance

NYSE HXL opened at $62.81 on Friday. The company has a market cap of $5.22 billion, a P/E ratio of 53.68, a P/E/G ratio of 1.25 and a beta of 1.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.75 and a quick ratio of 1.51. The stock has a 50-day moving average of $66.57 and a two-hundred day moving average of $69.01. Hexcel has a 1-year low of $58.81 and a 1-year high of $77.09.

Hexcel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, August 2nd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, August 2nd. Hexcel’s dividend payout ratio is currently 51.28%.

Insider Buying and Selling at Hexcel

In related news, Director Catherine A. Suever acquired 400 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average price of $68.33 per share, for a total transaction of $27,332.00. Following the purchase, the director now owns 15,748 shares of the company’s stock, valued at approximately $1,076,060.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Hexcel news, CEO Nick L. Stanage bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was purchased at an average price of $64.29 per share, for a total transaction of $964,350.00. Following the completion of the purchase, the chief executive officer now directly owns 392,446 shares in the company, valued at $25,230,353.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Catherine A. Suever acquired 400 shares of Hexcel stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of $68.33 per share, with a total value of $27,332.00. Following the purchase, the director now owns 15,748 shares of the company’s stock, valued at approximately $1,076,060.84. The disclosure for this purchase can be found here. Insiders bought a total of 43,400 shares of company stock valued at $2,820,322 in the last three months. 1.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HXL has been the topic of a number of recent analyst reports. Truist Financial decreased their target price on Hexcel from $88.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group raised their price objective on Hexcel from $69.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Northcoast Research lowered Hexcel from a “buy” rating to a “neutral” rating in a report on Wednesday, April 10th. UBS Group decreased their price objective on Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Finally, Wells Fargo & Company upgraded Hexcel from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $81.00 to $95.00 in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Hexcel has an average rating of “Hold” and an average target price of $76.07.

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.