Hexcel Corporation (HXL) Issues Earnings Results, Misses Estimates By $0.02 EPS

Hexcel Corporation (NYSE:HXL) posted its quarterly earnings results on Monday, July 24th. The aerospace company reported $0.67 earnings per share (EPS) 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 firm had revenue of $491.30 million during the quarter, compared to the consensus estimate of $518.29 million. During the same quarter in the prior year, the business earned $0.70 EPS. Hexcel Corporation’s revenue was down 6.0% on a year-over-year basis. Hexcel Corporation updated its FY17 guidance to $2 EPS.

Shares of Hexcel Corporation (NYSE HXL) opened at 52.37 on Friday. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 19.18 and a beta of 1.04. Hexcel Corporation has a 52-week low of $41.03 and a 52-week high of $55.91. The stock’s 50 day moving average price is $53.15 and its 200-day moving average price is $52.57.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Stockholders of record on Thursday, August 3rd were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, August 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from Hexcel Corporation’s previous quarterly dividend of $0.11. Hexcel Corporation’s dividend payout ratio (DPR) is currently 18.32%.

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Several equities analysts have weighed in on the company. Jefferies Group LLC reissued a “hold” rating and issued a $50.00 target price (down previously from $52.00) on shares of Hexcel Corporation in a research note on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and issued a $57.00 target price on shares of Hexcel Corporation in a research note on Wednesday, August 9th. BidaskClub lowered Hexcel Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research raised Hexcel Corporation from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Monday, June 26th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $54.00 target price on shares of Hexcel Corporation in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $56.89.

Several hedge funds and other institutional investors have recently made changes to their positions in HXL. Russell Investments Group Ltd. acquired a new position in shares of Hexcel Corporation during the fourth quarter worth about $1,391,000. Comerica Bank increased its position in shares of Hexcel Corporation by 39.5% in the fourth quarter. Comerica Bank now owns 9,731 shares of the aerospace company’s stock worth $497,000 after buying an additional 2,753 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Hexcel Corporation by 9.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 733,523 shares of the aerospace company’s stock worth $37,734,000 after buying an additional 63,772 shares in the last quarter. Norges Bank acquired a new position in shares of Hexcel Corporation during the fourth quarter worth about $31,627,000. Finally, RMB Capital Management LLC acquired a new position in shares of Hexcel Corporation during the fourth quarter worth about $1,157,000.

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.

Earnings History for Hexcel Corporation (NYSE:HXL)

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