Hexcel Corporation (HXL) Releases FY17 Earnings Guidance
Hexcel Corporation (NYSE:HXL) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.64-2.72 for the period, compared to the Thomson Reuters consensus estimate of $2.67. The company issued revenue guidance of Just under $2 billion, compared to the consensus revenue estimate of $1.99 billion.
Several research firms have recently commented on HXL. Zacks Investment Research raised Hexcel Corporation from a sell rating to a hold rating in a research report on Tuesday. Loop Capital began coverage on Hexcel Corporation in a research report on Thursday, September 28th. They issued a hold rating and a $61.00 price target for the company. BidaskClub lowered Hexcel Corporation from a hold rating to a sell rating in a research report on Monday, July 31st. Cowen and Company reissued a buy rating and issued a $57.00 price target on shares of Hexcel Corporation in a research report on Wednesday, August 9th. Finally, Canaccord Genuity reissued a hold rating and issued a $54.00 price target on shares of Hexcel Corporation in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Hexcel Corporation presently has an average rating of Hold and an average target price of $58.00.
Shares of Hexcel Corporation (NYSE HXL) traded up 0.67% on Wednesday, reaching $58.94. The company had a trading volume of 610,426 shares. The firm’s 50 day moving average is $56.34 and its 200 day moving average is $53.29. Hexcel Corporation has a 12 month low of $41.91 and a 12 month high of $60.41. The firm has a market capitalization of $5.29 billion, a PE ratio of 21.59 and a beta of 1.04.
Hexcel Corporation (NYSE:HXL) last posted its quarterly earnings results on Wednesday, October 18th. The aerospace company reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. Hexcel Corporation had a return on equity of 18.69% and a net margin of 12.99%. The company had revenue of $491.50 million for the quarter, compared to analysts’ expectations of $507.77 million. During the same period last year, the firm earned $0.65 earnings per share. Hexcel Corporation’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities research analysts expect that Hexcel Corporation will post $2.68 earnings per share for the current fiscal year.
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A hedge fund recently raised its stake in Hexcel Corporation stock. The Manufacturers Life Insurance Company lifted its position in shares of Hexcel Corporation (NYSE:HXL) by 6.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,098 shares of the aerospace company’s stock after purchasing an additional 200 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Hexcel Corporation were worth $163,000 at the end of the most recent reporting period. 96.61% of the stock is owned by hedge funds and other institutional investors.
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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