Hexcel Co. to Post Q3 2023 Earnings of $0.42 Per Share, Zacks Research Forecasts (NYSE:HXL)

Posted by on Sep 7th, 2023

Hexcel Co. (NYSE:HXL – Free Report) – Equities research analysts at Zacks Research upped their Q3 2023 earnings estimates for shares of Hexcel in a research report issued to clients and investors on Tuesday, September 5th. Zacks Research analyst S. Kedia now anticipates that the aerospace company will post earnings of $0.42 per share for the quarter, up from their prior forecast of $0.41. The consensus estimate for Hexcel’s current full-year earnings is $1.92 per share. Zacks Research also issued estimates for Hexcel’s Q4 2023 earnings at $0.47 EPS, FY2023 earnings at $1.89 EPS, Q1 2024 earnings at $0.58 EPS, Q3 2024 earnings at $0.60 EPS, FY2024 earnings at $2.52 EPS and FY2025 earnings at $3.10 EPS.

Hexcel (NYSE:HXL – Get Free Report) last announced its earnings results on Tuesday, July 25th. The aerospace company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $454.30 million during the quarter, compared to analyst estimates of $450.15 million. Hexcel had a net margin of 8.73% and a return on equity of 9.40%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS.

HXL has been the subject of a number of other reports. StockNews.com started coverage on shares of Hexcel in a research note on Thursday, August 17th. They set a “hold” rating for the company. BMO Capital Markets cut their price objective on shares of Hexcel from $74.00 to $73.00 and set a “market perform” rating for the company in a research report on Monday, August 7th. Royal Bank of Canada raised shares of Hexcel from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $75.00 to $85.00 in a research report on Tuesday, August 15th. Wolfe Research raised shares of Hexcel from a “peer perform” rating to an “outperform” rating and set a $83.00 price objective for the company in a research report on Thursday, August 17th. Finally, Truist Financial cut their price objective on shares of Hexcel from $73.00 to $71.00 in a research report on Wednesday, July 26th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $75.22.

Get Our Latest Stock Analysis on Hexcel

Hexcel Price Performance

Shares of HXL opened at $71.99 on Wednesday. The firm has a market cap of $6.08 billion, a PE ratio of 41.37 and a beta of 1.22. The company has a current ratio of 2.93, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $72.61 and a two-hundred day simple moving average of $71.36. Hexcel has a 1-year low of $50.00 and a 1-year high of $79.08.

Hexcel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Friday, August 4th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.69%. The ex-dividend date was Thursday, August 3rd. Hexcel’s dividend payout ratio is currently 28.74%.

Insider Buying and Selling

In related news, insider Gail E. Lehman sold 1,571 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $70.15, for a total value of $110,205.65. Following the completion of the transaction, the insider now owns 6,942 shares of the company’s stock, valued at approximately $486,981.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HXL. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Hexcel by 12.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,268 shares of the aerospace company’s stock valued at $492,000 after purchasing an additional 922 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Hexcel by 17.0% during the 1st quarter. US Bancorp DE now owns 11,064 shares of the aerospace company’s stock valued at $658,000 after purchasing an additional 1,609 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Hexcel by 10.6% during the 1st quarter. HighTower Advisors LLC now owns 17,097 shares of the aerospace company’s stock valued at $1,017,000 after purchasing an additional 1,641 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Hexcel by 18.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,823 shares of the aerospace company’s stock valued at $1,000,000 after purchasing an additional 2,567 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of Hexcel by 22.7% during the 1st quarter. Bank of Montreal Can now owns 34,884 shares of the aerospace company’s stock valued at $2,087,000 after purchasing an additional 6,443 shares during the last quarter. Institutional investors own 94.71% of the company’s stock.

Hexcel Company Profile

(Get Free Report)

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.

Read More

Earnings History and Estimates for Hexcel (NYSE:HXL)

Receive News & Ratings for Hexcel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hexcel and related companies with MarketBeat.com's FREE daily email newsletter.