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.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. Vertical Research cut shares of Hexcel from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research report on Thursday, October 10th. Royal Bank of Canada cut shares of Hexcel from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $76.00 to $68.00 in a research report on Wednesday, August 14th. Truist Financial decreased their target price on shares of Hexcel from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Hexcel from $65.00 to $62.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, BMO Capital Markets decreased their price target on shares of Hexcel from $71.00 to $70.00 and set a “market perform” rating for the company in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.08.
Get Our Latest Stock Report on HXL
Hexcel Stock Performance
Hexcel (NYSE:HXL – Get Free Report) last released its quarterly earnings results on Thursday, July 18th. The aerospace company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. The company had revenue of $500.40 million for the quarter, compared to analyst estimates of $484.26 million. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. On average, research analysts forecast that Hexcel will post 2.05 EPS for the current year.
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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