Hexcel Corporation (HXL) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jul 29, 2016.
On the company’s financial health, Hexcel Corporation reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.64. The company had revenue of $522.60 million for the quarter, compared to analysts expectations of $503.98 million. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.
Hexcel Corporation closed down -0.35 points or -0.80% at $43.28 with 5,00,528 shares getting traded on Thursday. Post opening the session at $43.62, the shares hit an intraday low of $42.86 and an intraday high of $43.62 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
Investors should note that on Jul 20, 2016, Hexcel Corporation announced a cash dividend of $0.1100. The company’s management has announced Aug 1, 2016 as the ex-dividend date and fixed the record date on Aug 3, 2016. The payable date has been fixed on Aug 10, 2016.
In a different news, on May 11, 2016, David Charles Hill (director) sold 1,000 shares at $44.80 per share price. According to the SEC, on Apr 27, 2016, Michael J Macintyre (Treasurer) sold 1,000 shares at $45.10 per share price. On Mar 23, 2016, Robert George Hennemuth (SVP, Human Resources) sold 12,388 shares at $45.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Hexcel Corporation (Hexcel) 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 composite structures for use in commercial aerospace space and defense and industrial markets. The Company operates in two segments: Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers fabrics and specialty reinforcements prepregs and other fiber-reinforced matrix materials structural adhesives honeycomb molding compounds tooling materials polyurethane systems and laminates. The Engineered Products segment manufactures and markets composite structures and precision machined honeycomb parts for use in the aerospace industry.