Hexcel (NYSE:HXL – Get Free Report) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $2.02-$2.18 for the period, compared to the consensus earnings per share estimate of $2.04. The company issued revenue guidance of $1.90-$1.98 billion, compared to the consensus revenue estimate of $1.92 billion. Hexcel also updated its FY 2024 guidance to 2.020-2.020 EPS.
Analyst Ratings Changes
Several equities research analysts have weighed in on HXL shares. Truist Financial reduced their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Morgan Stanley decreased their price target on Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets lowered their price target on Hexcel from $71.00 to $70.00 and set a “market perform” rating for the company in a research report on Monday, September 30th. Vertical Research cut shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price objective on the stock. in a research report on Thursday, October 10th. Finally, Wells Fargo & Company raised their target price on shares of Hexcel from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $71.77.
Read Our Latest Analysis on HXL
Hexcel Stock Down 2.6 %
Hexcel (NYSE:HXL – Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The aerospace company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $457.00 million for the quarter, compared to the consensus estimate of $457.07 million. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS. Sell-side analysts expect that Hexcel will post 2.05 earnings per share for the current year.
Hexcel Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. Hexcel’s dividend payout ratio is presently 51.28%.
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.
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