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

Hexcel (NYSE:HXL) issued its quarterly earnings data on Monday. The aerospace company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01, Briefing.com reports. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The business had revenue of $457.00 million for the quarter, compared to the consensus estimate of $457.07 million. During the same quarter last year, the business posted $0.38 EPS. The firm’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 Price Performance

Shares of HXL opened at $62.68 on Thursday. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $61.65 and its 200 day simple moving average is $64.28. Hexcel has a 1-year low of $57.50 and a 1-year high of $77.09. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 1.38 and a beta of 1.29.

Hexcel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, November 1st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. Hexcel’s dividend payout ratio is presently 51.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stifel Nicolaus dropped their price target on Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Hexcel from $65.00 to $62.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley dropped their price objective on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada lowered shares of Hexcel from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $76.00 to $68.00 in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company lifted their price target on Hexcel from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Hexcel currently has an average rating of “Hold” and a consensus price target of $71.77.

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.