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

Hexcel (NYSE:HXL) released its earnings results on Monday. The aerospace company reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44, Briefing.com reports. Hexcel had a net margin of 5.52% and a return on equity of 8.91%. The firm had revenue of $472.30 million for the quarter, compared to analyst estimates of $468.93 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Hexcel updated its FY24 guidance to $2.10-$2.30 EPS.

Hexcel Stock Performance

Shares of NYSE HXL traded down $0.33 during mid-day trading on Wednesday, hitting $63.24. 1,511,407 shares of the company were exchanged, compared to its average volume of 901,433. The company has a quick ratio of 1.68, a current ratio of 2.74 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $71.02 and a 200-day simple moving average of $69.52. Hexcel has a 1-year low of $58.81 and a 1-year high of $79.08. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 53.79, a price-to-earnings-growth ratio of 1.30 and a beta of 1.23.

Hexcel Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, May 2nd. Hexcel’s dividend payout ratio is presently 51.28%.

Insider Buying and Selling

In other Hexcel news, 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 sale, the insider now owns 3,375 shares of the company’s stock, valued at $243,337.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Hexcel news, 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 sale, the insider now owns 3,375 shares of the company’s stock, valued at $243,337.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Thierry Merlot sold 4,500 shares of Hexcel stock in a transaction on Friday, February 9th. The stock was sold at an average price of $71.63, for a total value of $322,335.00. Following the transaction, the insider now directly owns 50,371 shares of the company’s stock, valued at approximately $3,608,074.73. The disclosure for this sale can be found here. Corporate insiders own 1.85% of the company’s stock.

Analysts Set New Price Targets

HXL has been the topic of a number of recent research reports. Truist Financial cut their target price on shares of Hexcel from $96.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Bank of America restated an “underperform” rating and set a $65.00 target price (down from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. Northcoast Research lowered shares of Hexcel from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 10th. Wells Fargo & Company increased their price target on shares of Hexcel from $78.00 to $81.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 21st. Finally, BMO Capital Markets increased their price target on shares of Hexcel from $69.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hexcel presently has a consensus rating of “Hold” and a consensus price target 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.