Hexcel Co. Forecasted to Earn Q1 2024 Earnings of $0.42 Per Share (NYSE:HXL)

Hexcel Co. (NYSE:HXL - Free Report) - Research analysts at Seaport Res Ptn issued their Q1 2024 EPS estimates for Hexcel in a research note issued to investors on Tuesday, April 9th. Seaport Res Ptn analyst R. Safran expects that the aerospace company will post earnings of $0.42 per share for the quarter. The consensus estimate for Hexcel's current full-year earnings is $2.25 per share. Seaport Res Ptn also issued estimates for Hexcel's Q2 2024 earnings at $0.56 EPS, Q3 2024 earnings at $0.55 EPS, Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $2.23 EPS, Q1 2025 earnings at $0.52 EPS, Q2 2025 earnings at $0.74 EPS, Q3 2025 earnings at $0.78 EPS, Q4 2025 earnings at $0.87 EPS and FY2025 earnings at $2.91 EPS.

HXL has been the subject of a number of other research reports. Morgan Stanley downgraded Hexcel from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $70.00 to $66.00 in a research report on Thursday, February 22nd. Stifel Nicolaus boosted their price target on shares of Hexcel from $81.00 to $89.00 and gave the company a "buy" rating in a report on Friday, February 16th. The Goldman Sachs Group raised shares of Hexcel from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $57.00 to $70.00 in a report on Wednesday, January 10th. Truist Financial upgraded shares of Hexcel from a "hold" rating to a "buy" rating and lifted their target price for the company from $62.00 to $96.00 in a research report on Wednesday, January 10th. Finally, BMO Capital Markets increased their price target on shares of Hexcel from $69.00 to $73.00 and gave the stock a "market perform" rating in a research report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $76.57.

Hexcel Stock Performance

NYSE HXL traded up $1.37 during midday trading on Thursday, hitting $63.71. The company had a trading volume of 1,996,583 shares, compared to its average volume of 830,401. The firm has a fifty day simple moving average of $72.39 and a two-hundred day simple moving average of $69.68. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 51.38, a P/E/G ratio of 1.47 and a beta of 1.23. The company has a quick ratio of 1.68, a current ratio of 2.74 and a debt-to-equity ratio of 0.41. Hexcel has a fifty-two week low of $58.81 and a fifty-two week high of $79.08.

Hexcel (NYSE:HXL - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $457.50 million during the quarter, compared to the consensus estimate of $474.01 million. Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share.

Hexcel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. This is a positive change from Hexcel's previous quarterly dividend of $0.13. Hexcel's dividend payout ratio is currently 48.39%.

Insider Buying and Selling at Hexcel

In other news, insider Thierry Merlot sold 4,500 shares of the company's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $71.63, for a total transaction of $322,335.00. Following the transaction, the insider now directly owns 50,371 shares in the company, valued at $3,608,074.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the insider now directly owns 3,375 shares in the company, valued at $243,337.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thierry Merlot sold 4,500 shares of the company's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $71.63, for a total transaction of $322,335.00. Following the transaction, the insider now owns 50,371 shares in the company, valued at $3,608,074.73. The disclosure for this sale can be found here. Corporate insiders own 1.85% of the company's stock.

Institutional Investors Weigh In On Hexcel

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its stake in Hexcel by 12.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,268 shares of the aerospace company's stock valued at $492,000 after buying an additional 922 shares during the period. US Bancorp DE raised its position in shares of Hexcel by 17.0% in the 1st quarter. US Bancorp DE now owns 11,064 shares of the aerospace company's stock valued at $658,000 after acquiring an additional 1,609 shares during the period. HighTower Advisors LLC boosted its stake in Hexcel by 10.6% during the 1st quarter. HighTower Advisors LLC now owns 17,097 shares of the aerospace company's stock worth $1,017,000 after acquiring an additional 1,641 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Hexcel by 18.0% during the first quarter. PNC Financial Services Group Inc. now owns 16,823 shares of the aerospace company's stock valued at $1,000,000 after purchasing an additional 2,567 shares during the period. Finally, Bank of Montreal Can increased its stake in Hexcel by 22.7% in the first quarter. Bank of Montreal Can now owns 34,884 shares of the aerospace company's stock valued at $2,087,000 after purchasing an additional 6,443 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

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.