Hexcel (HXL) Projected to Post Quarterly Earnings on Wednesday

Hexcel (NYSE:HXL) is expected to be issuing its quarterly earnings data after the market closes on Wednesday, January 22nd. Analysts expect the company to announce earnings of $0.52 per share and revenue of $485,980.00 billion for the quarter. Hexcel has set its FY24 guidance at $2.02-$2.18 EPS and its FY 2024 guidance at 2.020-2.020 EPS.

Hexcel (NYSE:HXL) last posted its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Hexcel had a net margin of 5.73% and a return on equity of 9.99%. The business had revenue of $457.00 million for the quarter, compared to the consensus estimate of $457.07 million. During the same period in the prior year, the business posted $0.38 earnings per share. Hexcel’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts expect Hexcel to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Hexcel Stock Up 1.2 %

Shares of NYSE:HXL traded up $0.83 during midday trading on Wednesday, hitting $67.39. 796,233 shares of the stock were exchanged, compared to its average volume of 879,248. The business’s fifty day simple moving average is $62.68 and its two-hundred day simple moving average is $62.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.51 and a current ratio of 2.76. Hexcel has a 52-week low of $57.50 and a 52-week high of $77.09. The company has a market capitalization of $5.46 billion, a PE ratio of 51.44, a P/E/G ratio of 1.97 and a beta of 1.30.

Hexcel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, November 1st were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, November 1st. Hexcel’s dividend payout ratio (DPR) is presently 45.80%.

Analysts Set New Price Targets

A number of equities analysts recently commented on HXL shares. Truist Financial dropped their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Wells Fargo & Company lifted their price objective on shares of Hexcel from $78.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada raised Hexcel from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $68.00 to $74.00 in a research report on Thursday, December 19th. BMO Capital Markets reduced their target price on Hexcel from $70.00 to $68.00 and set a “market perform” rating for the company in a report on Monday, October 28th. Finally, StockNews.com raised shares of Hexcel from a “hold” rating to a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $71.33.

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.