Cabot Corp (NYSE:CBT) – Equities research analysts at Jefferies Group increased their FY2019 earnings per share estimates for shares of Cabot in a research note issued on Thursday. Jefferies Group analyst L. Alexander now forecasts that the specialty chemicals company will post earnings of $4.50 per share for the year, up from their previous forecast of $4.05. Jefferies Group has a “Buy” rating and a $78.00 price objective on the stock. Jefferies Group also issued estimates for Cabot’s FY2020 earnings at $4.95 EPS and FY2021 earnings at $5.40 EPS.
Other analysts also recently issued research reports about the company. Northcoast Research set a $75.00 price objective on Cabot and gave the stock a “buy” rating in a research note on Monday. ValuEngine raised Cabot from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. KeyCorp reissued a “hold” rating on shares of Cabot in a research note on Wednesday, November 1st. Zacks Investment Research raised Cabot from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Friday, February 9th. Finally, SunTrust Banks raised Cabot from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $72.33.
Cabot (CBT) traded up $1.26 on Monday, hitting $64.66. The stock had a trading volume of 268,120 shares, compared to its average volume of 479,509. Cabot has a 12 month low of $50.21 and a 12 month high of $68.63. The company has a quick ratio of 1.02, a current ratio of 1.63 and a debt-to-equity ratio of 0.43. The company has a market cap of $3,906.21, a P/E ratio of 64.69, a PEG ratio of 1.55 and a beta of 1.25.
Cabot (NYSE:CBT) last posted its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.15. Cabot had a return on equity of 15.01% and a net margin of 2.30%. The company had revenue of $720.00 million for the quarter, compared to the consensus estimate of $653.54 million. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Cabot by 113.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,978,158 shares of the specialty chemicals company’s stock valued at $121,834,000 after buying an additional 1,052,224 shares during the period. BNP Paribas Arbitrage SA raised its position in Cabot by 433.2% during the third quarter. BNP Paribas Arbitrage SA now owns 440,191 shares of the specialty chemicals company’s stock valued at $24,563,000 after buying an additional 357,639 shares during the period. Victory Capital Management Inc. raised its position in Cabot by 37.9% during the third quarter. Victory Capital Management Inc. now owns 1,102,342 shares of the specialty chemicals company’s stock valued at $61,511,000 after buying an additional 302,750 shares during the period. Renaissance Technologies LLC raised its position in Cabot by 97.9% during the fourth quarter. Renaissance Technologies LLC now owns 418,000 shares of the specialty chemicals company’s stock valued at $25,745,000 after buying an additional 206,800 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its position in Cabot by 9.4% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,780,692 shares of the specialty chemicals company’s stock valued at $99,363,000 after buying an additional 152,988 shares during the period. 82.36% of the stock is currently owned by institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, February 22nd. Cabot’s dividend payout ratio (DPR) is presently 128.57%.
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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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