Hexcel (NYSE:HXL) Announces Quarterly Earnings Results

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

HXL stock opened at $63.25 on Thursday. The business’s fifty day simple moving average is $70.81 and its two-hundred day simple moving average is $69.48. 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 firm has a market cap of $5.26 billion, a price-to-earnings ratio of 54.06, a PEG ratio of 1.32 and a beta of 1.23. Hexcel has a twelve month low of $58.81 and a twelve month high of $79.08.

Hexcel Announces Dividend

The firm 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 dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, May 2nd. Hexcel’s payout ratio is currently 51.28%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HXL shares. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 target price on shares of Hexcel in a research note on Wednesday, February 21st. BMO Capital Markets increased their price target on shares of Hexcel from $69.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group boosted their price objective on Hexcel from $69.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Truist Financial cut their price target on Hexcel from $96.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, StockNews.com downgraded Hexcel from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Hexcel has an average rating of “Hold” and an average target price of $76.57.

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.