Hexcel (NYSE:HXL) Shares Gap Down After Earnings Miss

Hexcel Co. (NYSE:HXL) shares gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $50.50, but opened at $47.47. Hexcel shares last traded at $46.45, with a volume of 238,728 shares trading hands.

The aerospace company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.06). The firm had revenue of $456.50 million for the quarter, compared to analyst estimates of $482.18 million. Hexcel had a net margin of 6.94% and a return on equity of 10.66%. During the same period in the previous year, the company earned $0.44 EPS.

Hexcel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.48%. Hexcel’s dividend payout ratio (DPR) is 42.77%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HXL shares. StockNews.com raised Hexcel from a “hold” rating to a “buy” rating in a report on Saturday. Royal Bank of Canada lifted their price objective on shares of Hexcel from $74.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. TD Cowen upgraded Hexcel to a “hold” rating in a research note on Monday, February 24th. Truist Financial decreased their price target on shares of Hexcel from $80.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Barclays lowered their price target on shares of Hexcel from $75.00 to $68.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $67.40.

Institutional Trading of Hexcel

Institutional investors have recently modified their holdings of the business. Barclays PLC increased its stake in Hexcel by 32.1% during the 3rd quarter. Barclays PLC now owns 70,023 shares of the aerospace company’s stock valued at $4,330,000 after purchasing an additional 17,011 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Hexcel by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,084,860 shares of the aerospace company’s stock valued at $68,021,000 after buying an additional 24,133 shares during the period. Kopion Asset Management LLC increased its stake in shares of Hexcel by 11.2% in the fourth quarter. Kopion Asset Management LLC now owns 97,960 shares of the aerospace company’s stock worth $6,142,000 after purchasing an additional 9,861 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Hexcel in the fourth quarter worth $242,000. Finally, Oak Thistle LLC grew its holdings in Hexcel by 303.5% during the 4th quarter. Oak Thistle LLC now owns 19,169 shares of the aerospace company’s stock valued at $1,202,000 after buying an additional 14,418 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Hexcel Stock Down 9.1 %

The company’s 50 day simple moving average is $56.97 and its 200-day simple moving average is $60.99. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 2.21. The firm has a market capitalization of $3.69 billion, a PE ratio of 28.69, a PEG ratio of 1.72 and a beta of 1.08.

Hexcel Company Profile

Hexcel Corporation develops, manufactures, and markets carbon fibers, structural reinforcements, honeycomb structures, resins, and composite materials and parts for use in commercial aerospace, space and defense, and industrial applications. It operates through two segments, Composite Materials and Engineered Products.