Hexcel (NYSE:HXL – Get Free Report) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.02-$2.18 for the period, compared to the consensus estimate of $2.04. The company issued revenue guidance of $1.90-$1.98 billion, compared to the consensus revenue estimate of $1.92 billion. Hexcel also updated its FY 2024 guidance to 2.020-2.020 EPS.
Analysts Set New Price Targets
HXL has been the topic of a number of recent research reports. Truist Financial reduced their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday. Morgan Stanley dropped their target price on Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets reduced their price target on shares of Hexcel from $71.00 to $70.00 and set a “market perform” rating for the company in a research report on Monday, September 30th. Stifel Nicolaus lowered their target price on Hexcel from $86.00 to $84.00 and set a “buy” rating on the stock in a report on Tuesday, July 2nd. Finally, Vertical Research downgraded shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.08.
Read Our Latest Analysis on HXL
Hexcel Stock Up 1.4 %
Hexcel Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, November 1st will be given 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 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.
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