Hexcel Corp. (HXL) Announces Quarterly Earnings Results
Hexcel Corp. (NYSE:HXL) announced its quarterly earnings results on Wednesday. The company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.04. Hexcel Corp. had a return on equity of 19.06% and a net margin of 11.87%. The business had revenue of $500.50 million for the quarter, compared to the consensus estimate of $494.26 million. During the same period last year, the business posted $0.55 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. Hexcel Corp. updated its FY16 guidance to $2.52-$2.58 EPS.
Shares of Hexcel Corp. (NYSE:HXL) remained flat at $42.52 during mid-day trading on Wednesday. The stock had a trading volume of 581,945 shares. Hexcel Corp. has a 52-week low of $37.54 and a 52-week high of $48.33. The stock’s 50 day moving average is $43.80 and its 200-day moving average is $43.71. The stock has a market cap of $3.93 billion, a PE ratio of 17.67 and a beta of 0.98.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 9th. Shareholders of record on Wednesday, November 2nd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.03%. Hexcel Corp.’s dividend payout ratio is currently 18.33%.
In other Hexcel Corp. news, SVP Robert George Hennemuth sold 2,495 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $45.00, for a total transaction of $112,275.00. Following the transaction, the senior vice president now directly owns 58,922 shares in the company, valued at $2,651,490. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thierry Merlot sold 8,600 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $45.01, for a total value of $387,086.00. Following the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $1,188,849.13. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Sei Investments Co. raised its stake in Hexcel Corp. by 126.7% in the second quarter. Sei Investments Co. now owns 2,627 shares of the company’s stock worth $109,000 after buying an additional 1,468 shares in the last quarter. Pinkerton Retirement Specialists LLC bought a new stake in Hexcel Corp. during the second quarter worth $119,000. Advisor Group Inc. bought a new stake in Hexcel Corp. during the second quarter worth $207,000. Nomura Holdings Inc. bought a new stake in Hexcel Corp. during the second quarter worth $220,000. Finally, Jefferies Group LLC bought a new stake in Hexcel Corp. during the second quarter worth $231,000. 98.27% of the stock is currently owned by institutional investors and hedge funds.
HXL has been the topic of a number of analyst reports. Zacks Investment Research upgraded Hexcel Corp. from a “sell” rating to a “hold” rating in a report on Monday, July 25th. Jefferies Group reiterated a “hold” rating and issued a $44.00 price target on shares of Hexcel Corp. in a report on Wednesday, August 10th. Canaccord Genuity set a $48.00 price target on Hexcel Corp. and gave the company a “hold” rating in a report on Wednesday, July 20th. Finally, Bank of America Corp. downgraded Hexcel Corp. from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Hexcel Corp. presently has a consensus rating of “Hold” and a consensus price target of $48.70.
About Hexcel Corp.
Hexcel Corporation is a composites company. The Company develops, manufactures and markets structural materials, including carbon fibers, reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and composite structures for use in commercial aerospace, space and defense and industrial markets.
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