Analysts Offer Predictions for Hexcel Co.’s Q3 2024 Earnings (NYSE:HXL)

Hexcel Co. (NYSE:HXL) – Seaport Res Ptn lowered their Q3 2024 earnings per share estimates for Hexcel in a research report issued on Thursday, August 29th. Seaport Res Ptn analyst R. Safran now forecasts that the aerospace company will post earnings of $0.46 per share for the quarter, down from their previous estimate of $0.49. The consensus estimate for Hexcel’s current full-year earnings is $2.08 per share. Seaport Res Ptn also issued estimates for Hexcel’s Q4 2024 earnings at $0.56 EPS and FY2024 earnings at $2.05 EPS.

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

Several other analysts also recently issued reports on HXL. Deutsche Bank Aktiengesellschaft decreased their target price on Hexcel from $70.00 to $68.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Royal Bank of Canada downgraded shares of Hexcel from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $76.00 to $68.00 in a report on Wednesday, August 14th. UBS Group reduced their price target on shares of Hexcel from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, July 1st. Truist Financial dropped their price objective on shares of Hexcel from $88.00 to $81.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Morgan Stanley reduced their target price on Hexcel from $63.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.54.

Hexcel Trading Down 0.7 %

Shares of Hexcel stock opened at $63.29 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 2.75. The company has a fifty day moving average of $63.65 and a 200 day moving average of $67.39. The company has a market capitalization of $5.17 billion, a P/E ratio of 54.09, a P/E/G ratio of 1.38 and a beta of 1.28. Hexcel has a fifty-two week low of $58.81 and a fifty-two week high of $77.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Hexcel by 277.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,695,343 shares of the aerospace company’s stock worth $105,874,000 after acquiring an additional 1,246,765 shares during the last quarter. Norges Bank bought a new stake in Hexcel in the fourth quarter worth about $66,597,000. Massachusetts Financial Services Co. MA boosted its position in shares of Hexcel by 143.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,466,380 shares of the aerospace company’s stock valued at $108,146,000 after buying an additional 864,405 shares during the period. Millennium Management LLC grew its stake in shares of Hexcel by 307.1% during the second quarter. Millennium Management LLC now owns 1,079,598 shares of the aerospace company’s stock valued at $67,421,000 after buying an additional 814,402 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Hexcel by 93.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,503,055 shares of the aerospace company’s stock worth $110,850,000 after buying an additional 724,280 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.

Hexcel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Friday, August 2nd. Hexcel’s dividend payout ratio (DPR) is 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.