Hexcel (HXL) to Release Quarterly Earnings on Monday

Hexcel (NYSE:HXL) will be issuing its quarterly earnings data after the market closes on Monday, April 22nd. Analysts expect the company to announce earnings of $0.45 per share for the quarter. Hexcel has set its FY 2024 guidance at 2.100-2.300 EPS.Parties that wish to register for the company’s conference call can do so using this link.

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

Hexcel Price Performance

Hexcel stock opened at $61.71 on Friday. The company’s 50 day simple moving average is $71.37 and its 200-day simple moving average is $69.52. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 49.77, a price-to-earnings-growth ratio of 1.28 and a beta of 1.23. Hexcel has a 1 year low of $58.81 and a 1 year high of $79.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.68 and a current ratio of 2.74.

Hexcel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were paid 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 0.97%. The ex-dividend date was Thursday, February 8th. Hexcel’s dividend payout ratio is presently 48.39%.

Wall Street Analyst Weigh In

HXL has been the topic of several recent research reports. The Goldman Sachs Group upped their target price on shares of Hexcel from $69.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday. Northcoast Research downgraded shares of Hexcel from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 10th. UBS Group downgraded shares of Hexcel from a “buy” rating to a “neutral” rating and cut their target price for the stock from $87.00 to $72.00 in a research note on Tuesday, January 30th. 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. Finally, Stifel Nicolaus cut their target price on shares of Hexcel from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday. Two investment 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. According to MarketBeat.com, Hexcel currently has a consensus rating of “Hold” and an average target price of $76.50.

Insider Buying and Selling at Hexcel

In other Hexcel news, insider Gina Fitzsimons sold 864 shares of the 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 sale, the insider now directly owns 3,375 shares of the company’s stock, valued at approximately $243,337.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Thierry Merlot sold 4,500 shares of the company’s stock in a transaction 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 approximately $3,608,074.73. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gina Fitzsimons sold 864 shares of the company’s stock in a transaction 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. Insiders own 1.39% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Morgan Stanley boosted its stake in Hexcel by 838.6% during the 4th quarter. Morgan Stanley now owns 6,810,199 shares of the aerospace company’s stock worth $400,780,000 after purchasing an additional 6,084,592 shares during the period. Norges Bank acquired a new stake in Hexcel during the 4th quarter worth $56,738,000. BlackRock Inc. boosted its stake in Hexcel by 6.0% during the 1st quarter. BlackRock Inc. now owns 8,420,295 shares of the aerospace company’s stock worth $500,755,000 after purchasing an additional 475,375 shares during the period. State Street Corp boosted its stake in Hexcel by 11.2% during the 1st quarter. State Street Corp now owns 3,409,631 shares of the aerospace company’s stock worth $202,771,000 after purchasing an additional 344,711 shares during the period. Finally, Citadel Advisors LLC boosted its stake in Hexcel by 272.1% during the 2nd quarter. Citadel Advisors LLC now owns 433,360 shares of the aerospace company’s stock worth $22,669,000 after purchasing an additional 316,896 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.