Cowen and Company restated their buy rating on shares of Hexcel Corporation (NYSE:HXL) in a research note issued to investors on Wednesday, August 9th. Cowen and Company currently has a $57.00 price objective on the aerospace company’s stock.
“We continue to favor HXL for its H2+ rebound, attractive valuation & scarcity (11x C18E EV/EBITDA), extended visibility, and improving cash flow profile as capex fades.”,” Cowen and Company’s analyst wrote.
A number of other equities research analysts have also weighed in on HXL. Zacks Investment Research upgraded shares of Hexcel Corporation from a sell rating to a hold rating in a research report on Thursday, May 18th. Aegis restated a buy rating on shares of Hexcel Corporation in a research report on Wednesday, May 31st. BidaskClub upgraded shares of Hexcel Corporation from a strong sell rating to a sell rating in a research report on Thursday, July 6th. Jefferies Group LLC reaffirmed a hold rating and issued a $52.00 price objective on shares of Hexcel Corporation in a report on Friday, July 7th. Finally, Canaccord Genuity reaffirmed a hold rating and issued a $54.00 price objective on shares of Hexcel Corporation in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $56.89.
Hexcel Corporation (NYSE:HXL) last released its quarterly earnings results on Monday, July 24th. The aerospace company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.02. The firm had revenue of $491.30 million for the quarter, compared to analyst estimates of $518.29 million. Hexcel Corporation had a net margin of 12.99% and a return on equity of 18.69%. Hexcel Corporation’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. On average, equities analysts expect that Hexcel Corporation will post $2.68 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Thursday, August 3rd were issued a dividend of $0.125 per share. This is a boost from Hexcel Corporation’s previous quarterly dividend of $0.11. This represents a $0.50 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Tuesday, August 1st. Hexcel Corporation’s dividend payout ratio (DPR) is currently 18.32%.
Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank boosted its stake 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 in the last quarter. The Manufacturers Life Insurance Company boosted its stake 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 in the last quarter. Nomura Holdings Inc. bought a new stake in Hexcel Corporation during the second quarter valued at approximately $202,000. Pacad Investment Ltd. bought a new stake in Hexcel Corporation during the second quarter valued at approximately $206,000. Finally, AHL Partners LLP bought a new stake 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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