KeyCorp Weighs in on Hexcel Co.’s FY2018 Earnings (HXL)
Hexcel Co. (NYSE:HXL) – Research analysts at KeyCorp lowered their FY2018 earnings estimates for shares of Hexcel in a report released on Tuesday. KeyCorp analyst M. Sison now anticipates that the aerospace company will post earnings per share of $2.90 for the year, down from their previous forecast of $3.00. KeyCorp has a “Overweight” rating and a $69.00 price objective on the stock.
Hexcel (NYSE:HXL) last announced 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. Hexcel had a net margin of 13.13% and a return on equity of 18.40%. The company had revenue of $491.50 million during the quarter, compared to the consensus estimate of $507.77 million. During the same quarter last year, the firm posted $0.65 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis.
Shares of Hexcel (HXL) traded up $0.22 on Thursday, hitting $61.20. 666,100 shares of the stock were exchanged, compared to its average volume of 585,878. Hexcel has a 52 week low of $49.20 and a 52 week high of $63.93. The company has a market cap of $5,477.56, a P/E ratio of 23.27, a PEG ratio of 2.88 and a beta of 1.10. The company has a current ratio of 2.74, a quick ratio of 1.53 and a debt-to-equity ratio of 0.58.
A number of institutional investors have recently modified their holdings of HXL. Fieldpoint Private Securities LLC acquired a new stake in Hexcel in the 3rd quarter worth about $142,000. The Manufacturers Life Insurance Company raised its position in shares of Hexcel by 6.9% in the 2nd 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. acquired a new position in shares of Hexcel in the 2nd quarter valued at approximately $202,000. Pacad Investment Ltd. acquired a new position in shares of Hexcel in the 2nd quarter valued at approximately $206,000. Finally, AHL Partners LLP acquired a new position in shares of Hexcel in the 2nd quarter valued at approximately $207,000. Institutional investors and hedge funds own 96.67% of the company’s stock.
In other Hexcel news, insider Thierry Merlot sold 3,748 shares of Hexcel stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $61.19, for a total value of $229,340.12. Following the completion of the sale, the insider now owns 13,691 shares in the company, valued at approximately $837,752.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy Swords sold 13,493 shares of Hexcel stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $60.27, for a total transaction of $813,223.11. Following the completion of the sale, the insider now owns 20,202 shares of the company’s stock, valued at approximately $1,217,574.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,797 shares of company stock valued at $1,636,263. 2.10% of the stock is currently owned by corporate insiders.
Hexcel Company Profile
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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