Hexcel (NYSE:HXL) Issues FY 2024 Earnings Guidance

Hexcel (NYSE:HXL - Get Free Report) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 2.020-2.020 for the period, compared to the consensus estimate of 2.050. The company issued revenue guidance of $1.9 billion-$1.9 billion, compared to the consensus revenue estimate of $1.9 billion. Hexcel also updated its FY24 guidance to $2.02-$2.18 EPS.

Analyst Ratings Changes

A number of brokerages have weighed in on HXL. Deutsche Bank Aktiengesellschaft lowered their target price on Hexcel from $65.00 to $62.00 and set a "hold" rating for the company in a report on Thursday, October 3rd. Truist Financial lowered their target price on Hexcel from $78.00 to $76.00 and set a "buy" rating for the company in a report on Friday. UBS Group lowered their target price on Hexcel from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, July 1st. BMO Capital Markets lowered their target price on Hexcel from $71.00 to $70.00 and set a "market perform" rating for the company in a report on Monday, September 30th. Finally, Morgan Stanley decreased their price objective on Hexcel from $63.00 to $61.00 and set an "underweight" rating for the company in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $73.08.

Hexcel Stock Up 1.4 %

Hexcel stock traded up $0.89 during trading on Monday, hitting $63.61. 1,071,853 shares of the company were exchanged, compared to its average volume of 866,048. The business's 50 day moving average is $61.54 and its 200 day moving average is $64.40. Hexcel has a 52 week low of $57.50 and a 52 week high of $77.09. The company has a market capitalization of $5.29 billion, a P/E ratio of 54.37, a PEG ratio of 1.38 and a beta of 1.29. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51.

Hexcel (NYSE:HXL - Get Free Report) last announced its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The business had revenue of $500.40 million during the quarter, compared to the consensus estimate of $484.26 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. Hexcel's revenue was up 10.1% compared to the same quarter last year. Analysts predict that Hexcel will post 2.05 earnings per share for the current year.

Hexcel Announces Dividend

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 issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.94%. Hexcel's dividend payout ratio (DPR) is currently 51.28%.

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.