Hexcel (NYSE:HXL) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Hexcel (NYSE:HXL) posted its earnings results on Monday. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01, Briefing.com reports. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The firm had revenue of $457.00 million during the quarter, compared to analyst estimates of $457.07 million. During the same period in the previous year, the business posted $0.38 EPS. Hexcel’s revenue was up 8.9% on a year-over-year basis. Hexcel updated its FY24 guidance to $2.02-$2.18 EPS and its FY 2024 guidance to 2.020-2.020 EPS.

Hexcel Trading Down 2.6 %

NYSE HXL traded down $1.69 on Wednesday, hitting $62.70. 1,228,376 shares of the company were exchanged, compared to its average volume of 873,643. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.75 and a quick ratio of 1.55. Hexcel has a twelve month low of $57.50 and a twelve month high of $77.09. The firm has a market capitalization of $5.21 billion, a P/E ratio of 54.04, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. The company’s 50 day moving average price is $61.64 and its 200-day moving average price is $64.29.

Hexcel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, November 1st will be given a $0.15 dividend. The ex-dividend date is Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. Hexcel’s dividend payout ratio (DPR) is 51.28%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HXL. BMO Capital Markets decreased their price objective on Hexcel from $71.00 to $70.00 and set a “market perform” rating for the company in a report on Monday, September 30th. Truist Financial decreased their price target on Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Royal Bank of Canada cut shares of Hexcel from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $76.00 to $68.00 in a research note on Wednesday, August 14th. Morgan Stanley lowered their target price on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Finally, Vertical Research lowered shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $71.77.

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.