Hexcel (NYSE:HXL) Issues FY24 Earnings Guidance

Hexcel (NYSE:HXL - Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $2.10-$2.30 for the period, compared to the consensus EPS estimate of $2.21. The company issued revenue guidance of $1.925-$2.025 billion, compared to the consensus revenue estimate of $1.97 billion.

Hexcel Price Performance

NYSE HXL traded up $0.82 on Monday, hitting $62.53. The stock had a trading volume of 1,339,673 shares, compared to its average volume of 874,130. Hexcel has a 52-week low of $58.81 and a 52-week high of $79.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 2.74. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 50.43, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23. The firm has a 50-day moving average of $71.17 and a 200-day moving average of $69.55.

Hexcel (NYSE:HXL - Get Free Report) last issued its earnings results on Monday, April 22nd. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). The firm had revenue of $472.30 million during the quarter, compared to analysts' expectations of $468.93 million. Hexcel had a return on equity of 9.31% and a net margin of 5.91%. The firm's quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. Equities analysts expect that Hexcel will post 2.22 EPS for the current year.

Hexcel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, May 3rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. Hexcel's dividend payout ratio is presently 48.39%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HXL. Bank of America reiterated an underperform rating and issued a $65.00 price target (down from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. Barclays reduced their price target on shares of Hexcel from $80.00 to $75.00 and set an equal weight rating for the company in a research note on Tuesday, January 30th. The Goldman Sachs Group lifted their price target on shares of Hexcel from $69.00 to $78.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Stifel Nicolaus reduced their price target on shares of Hexcel from $90.00 to $86.00 and set a buy rating for the company in a research note on Wednesday, April 17th. Finally, UBS Group lowered shares of Hexcel from a buy rating to a neutral rating and cut their target price for the company from $87.00 to $72.00 in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $76.50.

Insider Buying and Selling at Hexcel

In other Hexcel news, insider Gina Fitzsimons sold 864 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total transaction of $62,294.40. Following the transaction, the insider now directly owns 3,375 shares in the company, valued at approximately $243,337.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Hexcel news, insider Gina Fitzsimons sold 864 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $72.10, for a total transaction of $62,294.40. Following the transaction, the insider now directly owns 3,375 shares in the company, valued at approximately $243,337.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thierry Merlot sold 4,500 shares of the stock in a transaction dated Friday, February 9th. The stock was 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. Company insiders own 1.85% of the company's stock.

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.