FY2024 Earnings Forecast for Hexcel Co. Issued By Zacks Research (NYSE:HXL)

Hexcel Co. (NYSE:HXL) – Investment analysts at Zacks Research lowered their FY2024 EPS estimates for Hexcel in a research note issued on Monday, October 7th. Zacks Research analyst R. Department now forecasts that the aerospace company will post earnings per share of $2.03 for the year, down from their prior forecast of $2.08. The consensus estimate for Hexcel’s current full-year earnings is $2.08 per share. Zacks Research also issued estimates for Hexcel’s Q4 2024 earnings at $0.54 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.68 EPS, Q4 2025 earnings at $0.75 EPS, FY2025 earnings at $2.54 EPS, Q1 2026 earnings at $0.60 EPS, Q2 2026 earnings at $0.82 EPS, Q3 2026 earnings at $0.78 EPS and FY2026 earnings at $3.06 EPS.

Hexcel (NYSE:HXL) last announced its earnings results on Thursday, July 18th. The aerospace company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Hexcel had a net margin of 5.78% and a return on equity of 9.55%. The business had revenue of $500.40 million during the quarter, compared to the consensus estimate of $484.26 million. During the same quarter last year, the firm earned $0.50 earnings per share. Hexcel’s quarterly revenue was up 10.1% on a year-over-year basis.

HXL has been the subject of several other reports. Morgan Stanley decreased their price target on shares of Hexcel from $63.00 to $61.00 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $76.00 to $68.00 in a research note on Wednesday, August 14th. 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 research note on Thursday, October 3rd. UBS Group decreased their target price on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, July 1st. Finally, Truist Financial decreased their target price on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.00.

Hexcel Trading Down 1.3 %

HXL opened at $59.51 on Wednesday. Hexcel has a 1-year low of $58.54 and a 1-year high of $77.09. The company has a current ratio of 2.75, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. The company has a market cap of $4.95 billion, a P/E ratio of 50.86, a price-to-earnings-growth ratio of 1.37 and a beta of 1.29. The company has a fifty day moving average price of $61.80 and a two-hundred day moving average price of $65.03.

Hexcel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, August 2nd. Hexcel’s dividend payout ratio (DPR) is presently 51.28%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Hexcel by 0.9% during the first quarter. Vanguard Group Inc. now owns 7,914,296 shares of the aerospace company’s stock worth $576,556,000 after purchasing an additional 67,425 shares during the last quarter. Earnest Partners LLC boosted its holdings in Hexcel by 2.9% during the second quarter. Earnest Partners LLC now owns 4,835,994 shares of the aerospace company’s stock worth $302,008,000 after purchasing an additional 136,290 shares during the last quarter. AQR Capital Management LLC boosted its stake in Hexcel by 277.9% in the second quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock valued at $105,874,000 after acquiring an additional 1,246,765 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Hexcel by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,406,287 shares of the aerospace company’s stock valued at $87,829,000 after acquiring an additional 103,679 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Hexcel by 6.7% in the first quarter. Sei Investments Co. now owns 1,318,541 shares of the aerospace company’s stock valued at $96,056,000 after acquiring an additional 82,473 shares during the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.