The numbers at this low level do not hold much logic. 9.125? Please! The cash flows down here are more than the capitalization for crying out loud! How often does this happen to public companies? Can't wait to see the quarterly report. If .36 and we figure 1.44 annual, a PE of 6.3 is stupid low; if earnings stay flat in 4q and start to rise in 1999 how can this Twilight Zone episode last? However, if the industry talk about declining earnings from the asia debacle mean lower earnings for 1999 we have to refigure our patience.
Related QuotesHXL 9 1/16 -11/16 delayed 20 mins - disclaimerMonday October 5, 4:38 pm Eastern Time
Company Press Release
Hexcel Announces Additional Stock Buyback
STAMFORD, Conn.--(BUSINESS WIRE)--Oct. 5, 1998--Hexcel Corporation (NYSE/PCX: HXL) announced today that its board of directors authorized the company to repurchase up to an additional $10 million of its common stock. The company also said that its board of directors may approve additional stock buybacks from time to time subject to market conditions and the terms of its credit agreements. The purchases may be made in the open market at prevailing prices or in privately negotiated transactions. The company has approximately 36,323,705 shares outstanding, with two large stockholders holding about 60% of these shares.
Hexcel also announced that it completed its previously announced program to repurchase $10 million of its outstanding common stock. During the period from August 6, 1998 to September 10, 1998, Hexcel repurchased a total of 811,700 shares at an average cost of $12.32 per share.
Hexcel Corporation is the world's leading advanced structural materials company. It manufactures lightweight, high performance carbon fibers, structural fabrics, composite materials and engineered products for use in commercial aerospace, electronics, space and defense, recreation and general industrial applications. Hexcel's 1997 revenues were $937 million.