Hexcel (HXL) to Release Quarterly Earnings on Monday

Hexcel (NYSE:HXL) is scheduled to release its earnings data after the market closes on Monday, April 22nd. Analysts expect Hexcel to post earnings of $0.45 per share for the quarter. Hexcel has set its FY 2024 guidance at 2.100-2.300 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Hexcel (NYSE:HXL) last announced its quarterly earnings results on Thursday, January 25th. The aerospace company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). Hexcel had a net margin of 5.91% and a return on equity of 9.31%. The firm had revenue of $457.50 million for the quarter, compared to the consensus estimate of $474.01 million. During the same period in the prior year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts expect Hexcel to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Hexcel Trading Down 1.7 %

Shares of HXL stock opened at $62.56 on Monday. Hexcel has a 12-month low of $58.81 and a 12-month high of $79.08. The company has a market capitalization of $5.20 billion, a P/E ratio of 50.45, a P/E/G ratio of 1.29 and a beta of 1.23. The firm has a 50-day moving average price of $72.26 and a 200 day moving average price of $69.71. The company has a quick ratio of 1.68, a current ratio of 2.74 and a debt-to-equity ratio of 0.41.

Hexcel Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were issued a dividend of $0.15 per share. This is an increase from Hexcel’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 8th. Hexcel’s dividend payout ratio (DPR) is currently 48.39%.

Insider Transactions at Hexcel

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

Institutional Trading of Hexcel

Institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its position in Hexcel by 838.6% during the fourth quarter. Morgan Stanley now owns 6,810,199 shares of the aerospace company’s stock worth $400,780,000 after acquiring an additional 6,084,592 shares in the last quarter. Norges Bank bought a new position in shares of Hexcel in the fourth quarter valued at about $56,738,000. BlackRock Inc. grew its stake in shares of Hexcel by 6.0% in the first quarter. BlackRock Inc. now owns 8,420,295 shares of the aerospace company’s stock valued at $500,755,000 after acquiring an additional 475,375 shares in the last quarter. State Street Corp grew its stake in shares of Hexcel by 11.2% in the first quarter. State Street Corp now owns 3,409,631 shares of the aerospace company’s stock valued at $202,771,000 after acquiring an additional 344,711 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in shares of Hexcel by 272.1% in the second quarter. Citadel Advisors LLC now owns 433,360 shares of the aerospace company’s stock valued at $22,669,000 after acquiring an additional 316,896 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HXL. The Goldman Sachs Group raised shares of Hexcel from a “sell” rating to a “neutral” rating and lifted their price target for the company from $57.00 to $70.00 in a report on Wednesday, January 10th. Bank of America reaffirmed an “underperform” rating and issued a $65.00 target price (down from $75.00) on shares of Hexcel in a research note on Wednesday, April 10th. Wells Fargo & Company boosted their target price on shares of Hexcel from $78.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Truist Financial raised shares of Hexcel from a “hold” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $96.00 in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus boosted their target price on shares of Hexcel from $81.00 to $89.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Hexcel has a consensus rating of “Hold” and an average price target of $76.57.

Hexcel Company Profile

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.