Hexcel (NYSE:HXL - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.100-2.300 for the period, compared to the consensus estimate of 2.230. The company issued revenue guidance of $1.9 billion-$2.0 billion, compared to the consensus revenue estimate of $2.0 billion. Hexcel also updated its FY24 guidance to $2.10-2.30 EPS.
Analysts Set New Price Targets
Several brokerages recently commented on HXL. Wells Fargo & Company boosted 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. UBS Group cut Hexcel from a buy rating to a neutral rating and dropped their price target for the stock from $87.00 to $72.00 in a research report on Tuesday, January 30th. Morgan Stanley cut Hexcel from an equal weight rating to an underweight rating and dropped their price target for the stock from $70.00 to $66.00 in a research report on Thursday, February 22nd. BMO Capital Markets upped their target price on Hexcel from $69.00 to $73.00 and gave the company a market perform rating in a report on Thursday, February 22nd. Finally, StockNews.com cut Hexcel from a buy rating to a hold rating in a report on Saturday, February 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $77.46.
Check Out Our Latest Stock Analysis on Hexcel
Hexcel Trading Down 0.5 %
HXL traded down $0.34 during mid-day trading on Tuesday, hitting $71.15. 988,571 shares of the stock were exchanged, compared to its average volume of 740,852. The firm's fifty day moving average is $72.44 and its two-hundred day moving average is $69.73. Hexcel has a 1-year low of $58.81 and a 1-year 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. The company has a market cap of $5.91 billion, a PE ratio of 57.38, a PEG ratio of 1.48 and a beta of 1.23.
Hexcel (NYSE:HXL - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The aerospace company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.06). The company had revenue of $457.50 million during the quarter, compared to analyst estimates of $474.01 million. Hexcel had a net margin of 5.91% and a return on equity of 9.31%. Hexcel's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. Equities analysts forecast that Hexcel will post 2.25 earnings per share for the current fiscal year.
Hexcel Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. This is an increase from Hexcel's previous quarterly dividend of $0.13. Hexcel's dividend payout ratio is presently 48.39%.
Insider Activity
In related news, insider Gina Fitzsimons sold 864 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total transaction of $62,294.40. Following the transaction, the insider now owns 3,375 shares in the company, valued at approximately $243,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Gina Fitzsimons sold 864 shares of the firm's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total transaction of $62,294.40. Following the transaction, the insider now owns 3,375 shares in the company, valued at approximately $243,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thierry Merlot sold 4,500 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $71.63, for a total value of $322,335.00. Following the sale, the insider now directly owns 50,371 shares of the company's stock, valued at $3,608,074.73. The disclosure for this sale can be found here. Company insiders own 1.85% of the company's stock.
Hedge Funds Weigh In On Hexcel
Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in Hexcel by 2.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 136,908 shares of the aerospace company's stock worth $10,098,000 after buying an additional 3,866 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Hexcel by 840.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,422 shares of the aerospace company's stock worth $4,825,000 after buying an additional 58,467 shares in the last quarter. Sanibel Captiva Trust Company Inc. purchased a new position in Hexcel during the fourth quarter worth $516,000. Public Employees Retirement System of Ohio grew its position in shares of Hexcel by 12.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 74,150 shares of the aerospace company's stock valued at $5,469,000 after purchasing an additional 8,009 shares during the period. Finally, High Falls Advisors Inc purchased a new stake in shares of Hexcel in the fourth quarter valued at $221,000. 95.47% of the stock is owned by institutional investors and hedge funds.
About Hexcel
(
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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.
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