Hexcel Co. (NYSE:HXL) Plans $0.15 Quarterly Dividend

Hexcel Co. (NYSE:HXL) announced a quarterly dividend on Monday, October 21st, RTT News reports. Stockholders of record on Friday, November 1st will be given a dividend of 0.15 per share by the aerospace company on Friday, November 8th. This represents a $0.60 annualized dividend and a dividend yield of 0.94%.

Hexcel has raised its dividend payment by an average of 43.3% per year over the last three years. Hexcel has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Hexcel to earn $2.61 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 23.0%.

Hexcel Price Performance

HXL stock traded up $0.88 on Monday, reaching $63.60. The company had a trading volume of 1,070,178 shares, compared to its average volume of 866,048. The company’s fifty day moving average is $61.54 and its 200 day moving average is $64.40. The company has a market cap of $5.29 billion, a P/E ratio of 54.50, a PEG ratio of 1.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 2.75. Hexcel has a 1 year low of $57.50 and a 1 year high of $77.09.

Hexcel (NYSE:HXL) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Hexcel had a return on equity of 9.55% and a net margin of 5.78%. The business had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. During the same quarter last year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts forecast that Hexcel will post 2.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Truist Financial decreased their price objective on Hexcel from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Friday. Stifel Nicolaus dropped their target price on Hexcel from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Vertical Research lowered Hexcel from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research note on Thursday, October 10th. Finally, Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $76.00 to $68.00 in a research note on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.08.

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.