Brokerages predict that Cabot Corp (NYSE:CBT) will announce earnings per share of $0.79 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Cabot’s earnings, with the highest EPS estimate coming in at $0.95 and the lowest estimate coming in at $0.73. Cabot posted earnings per share of $0.84 during the same quarter last year, which suggests a negative year over year growth rate of 6%. The business is scheduled to report its next earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that Cabot will report full-year earnings of $3.78 per share for the current fiscal year, with EPS estimates ranging from $3.70 to $3.90. For the next year, analysts forecast that the business will report earnings of $4.17 per share, with EPS estimates ranging from $4.05 to $4.40. Zacks’ EPS averages are a mean average based on a survey of research analysts that follow Cabot.
Cabot (NYSE:CBT) last posted its quarterly earnings data on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.02). The firm had revenue of $723.00 million during the quarter, compared to analyst estimates of $683.30 million. Cabot had a net margin of 8.87% and a return on equity of 15.11%. Cabot’s revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 earnings per share.
Several equities research analysts have recently weighed in on CBT shares. Jefferies Group reissued a “buy” rating and issued a $74.00 price objective on shares of Cabot in a report on Friday, November 3rd. SunTrust Banks raised Cabot from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded Cabot from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. KeyCorp reissued a “hold” rating on shares of Cabot in a report on Wednesday, November 1st. Finally, Loop Capital started coverage on Cabot in a report on Thursday, September 28th. They issued a “hold” rating and a $59.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $61.14.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cabot by 9.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after purchasing an additional 209 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Cabot during the second quarter worth $155,000. Parametrica Management Ltd acquired a new stake in shares of Cabot during the third quarter worth $217,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Cabot during the third quarter worth $218,000. Finally, Quantbot Technologies LP lifted its holdings in shares of Cabot by 244.4% during the second quarter. Quantbot Technologies LP now owns 4,643 shares of the specialty chemicals company’s stock worth $248,000 after purchasing an additional 3,295 shares during the period. 84.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Cabot (NYSE CBT) opened at $61.27 on Wednesday. The firm has a market capitalization of $3,568.30, a P/E ratio of 16.79, a PEG ratio of 1.53 and a beta of 1.11. Cabot has a fifty-two week low of $50.21 and a fifty-two week high of $64.66. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 0.41.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Wednesday, November 22nd. Cabot’s dividend payout ratio is presently 33.07%.
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Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.
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