Hexcel Corporation (NYSE:HXL) Announces Quarterly Earnings Results
Hexcel Corporation (NYSE:HXL) announced its earnings results on Monday, July 24th. The aerospace company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.69 by $0.02, Bloomberg Earnings reports. Hexcel Corporation had a net margin of 12.99% and a return on equity of 18.69%. The company had revenue of $491.30 million during the quarter, compared to analysts’ expectations of $518.29 million. During the same quarter last year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. Hexcel Corporation updated its FY17 guidance to $2 EPS.
Hexcel Corporation (HXL) traded up 0.06% during midday trading on Friday, reaching $52.37. The company’s stock had a trading volume of 305,703 shares. Hexcel Corporation has a 12 month low of $41.03 and a 12 month high of $55.91. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 19.18 and a beta of 1.04. The stock’s 50-day moving average price is $53.15 and its 200-day moving average price is $52.57.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Thursday, August 3rd were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Tuesday, August 1st. This is an increase from Hexcel Corporation’s previous quarterly dividend of $0.11. Hexcel Corporation’s payout ratio is 18.32%.
Several research analysts have weighed in on HXL shares. Zacks Investment Research downgraded Hexcel Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Jefferies Group LLC reissued a “hold” rating and issued a $52.00 price target on shares of Hexcel Corporation in a report on Friday, July 7th. Vertical Research cut Hexcel Corporation from a “buy” rating to a “hold” rating and reduced their price target for the company from $58.00 to $54.00 in a report on Wednesday, July 26th. Aegis reissued a “buy” rating on shares of Hexcel Corporation in a report on Wednesday, May 31st. Finally, BidaskClub raised Hexcel Corporation from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $56.89.
Several hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank increased its position in Hexcel Corporation by 50.7% in the first quarter. Toronto Dominion Bank now owns 2,305 shares of the aerospace company’s stock valued at $126,000 after buying an additional 775 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Hexcel Corporation by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 3,098 shares of the aerospace company’s stock valued at $163,000 after buying an additional 200 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Hexcel Corporation during the second quarter valued at approximately $202,000. Pacad Investment Ltd. acquired a new position in Hexcel Corporation during the second quarter valued at approximately $206,000. Finally, AHL Partners LLP acquired a new position in Hexcel Corporation during the second quarter valued at approximately $207,000.
About Hexcel Corporation
Hexcel Corporation is a composites company. The Company develops, manufactures, and markets lightweight, structural materials, including carbon fibers, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered honeycomb and structures, for use in Commercial Aerospace, Space and Defense and Industrial markets.
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