Equities analysts predict that Cabot Corp (NYSE:CBT) will announce $1.04 earnings per share for the current quarter, Zacks reports. Three analysts have issued estimates for Cabot’s earnings, with estimates ranging from $1.00 to $1.09. Cabot posted earnings of $0.81 per share in the same quarter last year, which suggests a positive year over year growth rate of 28.4%. The company is scheduled to issue its next quarterly earnings results on Tuesday, August 7th.
On average, analysts expect that Cabot will report full year earnings of $4.11 per share for the current year, with EPS estimates ranging from $4.01 to $4.25. For the next financial year, analysts anticipate that the business will post earnings of $4.63 per share, with EPS estimates ranging from $4.47 to $4.90. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Cabot.
Cabot (NYSE:CBT) last issued its earnings results on Monday, May 7th. The specialty chemicals company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $818.00 million for the quarter, compared to analyst estimates of $746.30 million. Cabot had a negative net margin of 6.14% and a positive return on equity of 15.83%. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS.
CBT has been the topic of several recent research reports. Zacks Investment Research raised shares of Cabot from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Thursday, May 10th. Loop Capital lifted their price objective on shares of Cabot to $82.00 and gave the stock a “buy” rating in a research note on Friday, June 22nd. TheStreet lowered shares of Cabot from a “b-” rating to a “c” rating in a research note on Monday, May 7th. Robert W. Baird reissued a “hold” rating and set a $67.00 price objective on shares of Cabot in a research note on Tuesday, April 17th. Finally, ValuEngine lowered shares of Cabot from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Cabot presently has an average rating of “Buy” and an average target price of $72.29.
In other Cabot news, Director Patrick M. Prevost sold 123,883 shares of Cabot stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $61.63, for a total value of $7,634,909.29. Following the transaction, the director now owns 375,085 shares of the company’s stock, valued at $23,116,488.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP James Patrick Kelly sold 2,500 shares of Cabot stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $64.08, for a total transaction of $160,200.00. Following the completion of the transaction, the vice president now directly owns 22,685 shares in the company, valued at approximately $1,453,654.80. The disclosure for this sale can be found here. Insiders have sold a total of 228,901 shares of company stock worth $14,194,838 in the last three months. 2.50% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Adviser Investments LLC bought a new position in Cabot in the first quarter valued at approximately $115,000. Trust Co. of Vermont lifted its stake in Cabot by 104.4% in the first quarter. Trust Co. of Vermont now owns 2,995 shares of the specialty chemicals company’s stock valued at $167,000 after buying an additional 1,530 shares in the last quarter. Quadrature Capital Ltd bought a new position in Cabot in the fourth quarter valued at approximately $219,000. TLP Group LLC lifted its stake in Cabot by 5,625.0% in the first quarter. TLP Group LLC now owns 3,664 shares of the specialty chemicals company’s stock valued at $204,000 after buying an additional 3,600 shares in the last quarter. Finally, Ellington Management Group LLC bought a new position in Cabot in the fourth quarter valued at approximately $271,000. 85.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE CBT traded down $0.69 during mid-day trading on Monday, hitting $60.76. The company’s stock had a trading volume of 5,538 shares, compared to its average volume of 533,438. The firm has a market capitalization of $3.80 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. The company has a current ratio of 1.67, a quick ratio of 1.07 and a debt-to-equity ratio of 0.47. Cabot has a one year low of $50.56 and a one year high of $68.63.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Friday, May 25th were paid a dividend of $0.33 per share. This is a positive change from Cabot’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, May 24th. This represents a $1.32 annualized dividend and a yield of 2.17%. Cabot’s dividend payout ratio (DPR) is presently 38.48%.
Cabot Company Profile
Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers carbon black, a form of elemental carbon used to enhance the physical properties of the systems and applications in which it is incorporated; and rubber blacks for use as a rubber reinforcing agent and performance additive in tires, hoses, belts, extruded profiles, and molded goods.
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