Hexcel (NYSE:HXL) Announces Earnings Results

Hexcel (NYSE:HXL - Get Free Report) posted its quarterly earnings data on Monday. The aerospace company reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $457.00 million during the quarter, compared to analysts' expectations of $457.07 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. Hexcel's revenue was up 8.9% compared to the same quarter last year. Hexcel updated its FY24 guidance to $2.02-$2.18 EPS and its FY 2024 guidance to 2.020-2.020 EPS.

Hexcel Trading Up 1.2 %

Shares of Hexcel stock traded up $0.76 on Tuesday, reaching $64.36. 2,058,713 shares of the company's stock were exchanged, compared to its average volume of 871,809. The firm's 50-day moving average is $61.59 and its two-hundred day moving average is $64.34. The company has a market capitalization of $5.35 billion, a P/E ratio of 55.01, a price-to-earnings-growth ratio of 1.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 2.75. Hexcel has a 52 week low of $57.50 and a 52 week high of $77.09.

Hexcel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, November 1st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a yield of 0.93%. Hexcel's payout ratio is currently 51.28%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HXL shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Hexcel from $65.00 to $62.00 and set a "hold" rating for the company in a research report on Thursday, October 3rd. Stifel Nicolaus reduced their price objective on Hexcel from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Tuesday, July 2nd. Morgan Stanley dropped their target price on Hexcel from $63.00 to $61.00 and set an "underweight" rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada cut Hexcel from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $76.00 to $68.00 in a report on Wednesday, August 14th. Finally, BMO Capital Markets dropped their price objective on shares of Hexcel from $71.00 to $70.00 and set a "market perform" rating for the company in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $73.08.

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.