Wall Street analysts expect that Cabot Corp (NYSE:CBT) will report sales of $744.18 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Cabot’s earnings, with the lowest sales estimate coming in at $714.48 million and the highest estimate coming in at $765.84 million. Cabot reported sales of $678.00 million during the same quarter last year, which indicates a positive year over year growth rate of 9.8%. The firm is scheduled to issue its next earnings results on Monday, May 7th.
According to Zacks, analysts expect that Cabot will report full-year sales of $744.18 million for the current fiscal year, with estimates ranging from $2.93 billion to $3.10 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.12 billion per share, with estimates ranging from $3.03 billion to $3.24 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Cabot.
Cabot (NYSE:CBT) last announced its earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.93 earnings per share for the quarter, beating the 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 firm had revenue of $720.00 million during the quarter, compared to the consensus estimate of $653.54 million. During the same quarter in the prior year, the company earned $0.84 EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year.
A number of brokerages have commented on CBT. Jefferies Group reiterated a “buy” rating and issued a $78.00 price objective on shares of Cabot in a research report on Thursday, February 8th. Northcoast Research set a $75.00 price objective on Cabot and gave the stock a “buy” rating in a research report on Monday, February 12th. ValuEngine upgraded Cabot from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded Cabot from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Friday, February 9th. Finally, SunTrust Banks upgraded Cabot from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $72.29.
Hedge funds have recently made changes to their positions in the business. Citizens Financial Group Inc RI acquired a new position in shares of Cabot in the 4th quarter worth approximately $142,000. Quadrature Capital Ltd acquired a new position in shares of Cabot in the 4th quarter worth approximately $219,000. State of Alaska Department of Revenue acquired a new position in shares of Cabot in the 4th quarter worth approximately $221,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Cabot by 48.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,663 shares of the specialty chemicals company’s stock worth $226,000 after buying an additional 1,194 shares in the last quarter. Finally, Signition LP acquired a new position in shares of Cabot in the 4th quarter worth approximately $229,000. Institutional investors own 87.23% of the company’s stock.
Shares of Cabot (NYSE:CBT) opened at $60.31 on Friday. Cabot has a 52 week low of $50.21 and a 52 week high of $68.63. The firm has a market capitalization of $3,777.65, a P/E ratio of 17.36, a P/E/G ratio of 1.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.63.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 23rd were given a $0.315 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.09%. Cabot’s dividend payout ratio is currently 128.57%.
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Cabot Company Profile
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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