Fintel reports that on August 17, 2023, Wolfe Research upgraded their outlook for Hexcel (NYSE:HXL) from Peer Perform to Outperform .
Analyst Price Forecast Suggests 8.88% Upside
As of August 2, 2023, the average one-year price target for Hexcel is 75.32. The forecasts range from a low of 62.62 to a high of $89.25. The average price target represents an increase of 8.88% from its latest reported closing price of 69.18.
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The projected annual revenue for Hexcel is 1,773MM, an increase of 3.92%. The projected annual non-GAAP EPS is 1.84.
Hexcel Declares $0.12 Dividend
On July 24, 2023 the company declared a regular quarterly dividend of $0.12 per share ($0.50 annualized). Shareholders of record as of August 4, 2023 received the payment on August 11, 2023. Previously, the company paid $0.12 per share.
At the current share price of $69.18 / share, the stock's dividend yield is 0.72%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.92%, the lowest has been 0.63%, and the highest has been 2.37%. The standard deviation of yields is 0.38 (n=162).
The current dividend yield is 0.54 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.28. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 810 funds or institutions reporting positions in Hexcel. This is an increase of 28 owner(s) or 3.58% in the last quarter. Average portfolio weight of all funds dedicated to HXL is 0.31%, an increase of 0.18%. Total shares owned by institutions decreased in the last three months by 4.20% to 99,473K shares. 
The put/call ratio of HXL is 0.47, indicating a bullish outlook.
What are Other Shareholders Doing?
Alliancebernstein holds 5,412K shares representing 6.41% ownership of the company. In it's prior filing, the firm reported owning 5,694K shares, representing a decrease of 5.21%. The firm increased its portfolio allocation in HXL by 0.84% over the last quarter.
Earnest Partners holds 4,297K shares representing 5.09% ownership of the company. In it's prior filing, the firm reported owning 5,214K shares, representing a decrease of 21.36%. The firm decreased its portfolio allocation in HXL by 11.30% over the last quarter.
Bank Of America holds 3,635K shares representing 4.30% ownership of the company. In it's prior filing, the firm reported owning 4,131K shares, representing a decrease of 13.66%. The firm decreased its portfolio allocation in HXL by 73.29% over the last quarter.
Boston Partners holds 2,682K shares representing 3.17% ownership of the company. In it's prior filing, the firm reported owning 3,057K shares, representing a decrease of 14.00%. The firm decreased its portfolio allocation in HXL by 62.26% over the last quarter.
EAASX - Eaton Vance Atlanta Capital SMID-Cap Fund holds 2,665K shares representing 3.16% ownership of the company. No change in the last quarter.
Hexcel Background Information
(This description is provided by the company.)
Hexcel Corporation is a leading advanced composites company. It develops, manufactures, and markets lightweight, high-performance structural materials including carbon fibers, specialty reinforcements, prepregs, and other fiber-reinforced matrix materials, honeycomb, adhesives, engineered core and composite structures for use in commercial aerospace, space and defense, and industrial applications.
Additional reading:
- HEXCEL REPORTS 2023 SECOND QUARTER RESULTS
- Hexcel Corporation and Subsidiaries
- Credit Agreement, dated April 25, 2023, by and among Hexcel Corporation, as borrower, the lenders party thereto, Citizens Bank N.A. as agent for the lenders and the other institutions party thereto (incorporated herein by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K dated April 28, 2023).
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