Hexcel (NYSE:HXL) Posts Earnings Results, Meets Expectations

Hexcel (NYSE:HXL) issued its quarterly earnings data on Monday. The aerospace company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44, Briefing.com reports. The firm had revenue of $472.30 million for the quarter, compared to analyst estimates of $468.93 million. Hexcel had a return on equity of 8.97% and a net margin of 5.52%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS. Hexcel updated its FY24 guidance to $2.10-$2.30 EPS.

Hexcel Stock Performance

NYSE HXL opened at $63.25 on Thursday. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 54.06, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23. The company has a quick ratio of 1.68, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $70.81 and a 200-day moving average price of $69.48. Hexcel has a twelve month low of $58.81 and a twelve month high of $79.08.

Hexcel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, May 3rd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Thursday, May 2nd. Hexcel’s payout ratio is currently 51.28%.

Analyst Ratings Changes

HXL has been the topic of a number of recent analyst reports. UBS Group cut their price objective on Hexcel from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com cut Hexcel from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Truist Financial lowered their target price on Hexcel from $96.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Bank of America restated an “underperform” rating and issued a $65.00 target price (down previously from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. Finally, Barclays lowered their target price on Hexcel from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Hexcel has a consensus rating of “Hold” and an average target price of $76.57.

Insider Transactions at Hexcel

In other Hexcel news, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total transaction of $62,294.40. Following the sale, the insider now directly owns 3,375 shares in the company, valued at $243,337.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Thierry Merlot sold 4,500 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $71.63, for a total transaction of $322,335.00. Following the completion of the sale, the insider now owns 50,371 shares in the company, valued at approximately $3,608,074.73. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gina Fitzsimons sold 864 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $72.10, for a total value of $62,294.40. Following the completion of the transaction, the insider now owns 3,375 shares of the company’s stock, valued at approximately $243,337.50. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

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.