FY2017 Earnings Forecast for Hexcel Corporation Issued By KeyCorp (HXL)
Hexcel Corporation (NYSE:HXL) – Stock analysts at KeyCorp increased their FY2017 earnings per share (EPS) estimates for shares of Hexcel Corporation in a research report issued to clients and investors on Thursday. KeyCorp analyst M. Sison now forecasts that the aerospace company will earn $2.67 per share for the year, up from their previous forecast of $2.65. KeyCorp has a “Overweight” rating and a $69.00 price target on the stock.
Hexcel Corporation (NYSE:HXL) last posted its quarterly earnings data on Wednesday, October 18th. The aerospace company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $491.50 million for the quarter, compared to analyst estimates of $507.77 million. Hexcel Corporation had a net margin of 13.13% and a return on equity of 18.40%. Hexcel Corporation’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share.
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A number of other research analysts also recently issued reports on HXL. 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. Cowen and Company reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Hexcel Corporation in a report on Tuesday, July 11th. 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. Finally, Vertical Research cut shares of Hexcel Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $58.00 to $54.00 in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Hexcel Corporation has an average rating of “Hold” and an average target price of $58.90.
Hexcel Corporation (HXL) opened at 63.76 on Monday. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 23.36 and a beta of 1.04. Hexcel Corporation has a 1-year low of $43.21 and a 1-year high of $63.82. The firm has a 50-day moving average of $57.28 and a 200-day moving average of $53.52.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, November 1st will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Tuesday, October 31st. Hexcel Corporation’s payout ratio is 18.05%.
Several institutional investors and hedge funds have recently made changes to their positions in HXL. BlackRock Inc. boosted its holdings in shares of Hexcel Corporation by 12,782.1% during the first quarter. BlackRock Inc. now owns 4,690,618 shares of the aerospace company’s stock worth $255,874,000 after purchasing an additional 4,654,206 shares during the period. Morgan Stanley lifted its stake in Hexcel Corporation by 236.2% in the first quarter. Morgan Stanley now owns 425,645 shares of the aerospace company’s stock valued at $23,219,000 after acquiring an additional 299,028 shares during the last quarter. Vanguard Group Inc. lifted its stake in Hexcel Corporation by 3.8% in the first quarter. Vanguard Group Inc. now owns 7,005,362 shares of the aerospace company’s stock valued at $382,143,000 after acquiring an additional 257,243 shares during the last quarter. Schroder Investment Management Group lifted its stake in Hexcel Corporation by 11.6% in the second quarter. Schroder Investment Management Group now owns 2,000,232 shares of the aerospace company’s stock valued at $104,652,000 after acquiring an additional 208,439 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in Hexcel Corporation by 6.6% in the second quarter. Epoch Investment Partners Inc. now owns 3,246,155 shares of the aerospace company’s stock valued at $171,365,000 after acquiring an additional 199,893 shares during the last quarter. Institutional investors own 96.61% of the company’s stock.
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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