Hexcel Corp. (HXL) Releases FY16 Earnings Guidance
Hexcel Corp. (NYSE:HXL) updated its FY16 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.52-$2.58 for the period, compared to the Thomson Reuters consensus estimate of $2.53. The company issued revenue guidance of $2.00-$2.03 billion, compared to the consensus revenue estimate of $2.02 billion.
A number of equities research analysts have weighed in on the company. Canaccord Genuity set a $48.00 price objective on Hexcel Corp. and gave the company a hold rating in a report on Wednesday, July 20th. Jefferies Group reaffirmed a hold rating and issued a $44.00 price objective on shares of Hexcel Corp. in a report on Wednesday, August 10th. Zacks Investment Research raised Hexcel Corp. from a sell rating to a hold rating in a report on Monday, July 25th. Finally, Bank of America Corp. lowered Hexcel Corp. from a buy rating to a neutral rating and set a $50.00 price objective on the stock. in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Hexcel Corp. has an average rating of Hold and an average target price of $48.70.
Hexcel Corp. (NYSE:HXL) remained flat at $42.52 during midday trading on Wednesday. 581,945 shares of the company were exchanged. The firm’s 50-day moving average is $43.80 and its 200 day moving average is $43.71. Hexcel Corp. has a 1-year low of $37.54 and a 1-year high of $48.33. The company has a market capitalization of $3.93 billion, a P/E ratio of 17.67 and a beta of 0.98.
Hexcel Corp. (NYSE:HXL) last posted its quarterly earnings data on Wednesday, October 19th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. Hexcel Corp. had a net margin of 11.87% and a return on equity of 19.06%. The firm earned $500.50 million during the quarter, compared to analyst estimates of $494.26 million. During the same quarter last year, the business posted $0.55 EPS. The company’s revenue was up 11.5% on a year-over-year basis. On average, analysts predict that Hexcel Corp. will post $2.54 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 9th. Shareholders of record on Wednesday, November 2nd will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.03%. Hexcel Corp.’s dividend payout ratio (DPR) is currently 18.33%.
In other Hexcel Corp. news, insider Thierry Merlot sold 8,600 shares of Hexcel Corp. stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $45.01, for a total transaction of $387,086.00. Following the completion of the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $1,188,849.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Charles Hill sold 1,188 shares of Hexcel Corp. stock in a transaction on Friday, August 5th. The shares were sold at an average price of $44.47, for a total transaction of $52,830.36. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.
Several large investors have recently modified their holdings of HXL. Stonebridge Capital Advisors LLC raised its stake in shares of Hexcel Corp. by 0.4% in the second quarter. Stonebridge Capital Advisors LLC now owns 72,556 shares of the company’s stock worth $3,021,000 after buying an additional 312 shares during the period. Pinkerton Retirement Specialists LLC bought a new stake in shares of Hexcel Corp. during the second quarter worth about $119,000. Cubist Systematic Strategies LLC raised its stake in shares of Hexcel Corp. by 14.8% in the second quarter. Cubist Systematic Strategies LLC now owns 11,695 shares of the company’s stock worth $487,000 after buying an additional 1,505 shares during the period. Nomura Holdings Inc. bought a new stake in shares of Hexcel Corp. during the second quarter worth about $220,000. Finally, A.R.T. Advisors LLC raised its stake in shares of Hexcel Corp. by 159.1% in the second quarter. A.R.T. Advisors LLC now owns 45,764 shares of the company’s stock worth $1,905,000 after buying an additional 28,100 shares during the period. 98.27% of the stock is owned by institutional investors.
Hexcel Corp. Company Profile
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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