Analysts Anticipate Cabot Co. (NYSE:CBT) Will Post Earnings of $1.55 Per Share

Equities research analysts predict that Cabot Co. (NYSE:CBTGet Rating) will post earnings of $1.55 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cabot’s earnings. The highest EPS estimate is $1.61 and the lowest is $1.50. Cabot reported earnings per share of $1.35 in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.8%. The business is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Cabot will report full year earnings of $6.10 per share for the current financial year, with EPS estimates ranging from $6.05 to $6.15. For the next financial year, analysts anticipate that the company will report earnings of $6.92 per share, with EPS estimates ranging from $6.75 to $7.00. Zacks’ EPS calculations are an average based on a survey of analysts that follow Cabot.

Cabot (NYSE:CBTGet Rating) last released its earnings results on Monday, May 2nd. The specialty chemicals company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.29. Cabot had a return on equity of 29.91% and a net margin of 3.43%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $918.99 million. During the same quarter last year, the firm posted $1.38 earnings per share.

Several equities analysts have recently commented on CBT shares. UBS Group raised their price target on Cabot from $71.00 to $85.00 in a research note on Wednesday, February 16th. StockNews.com lowered Cabot from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft raised their price target on Cabot from $65.00 to $74.00 in a research note on Tuesday, May 17th. Zacks Investment Research lowered Cabot from a “buy” rating to a “hold” rating and set a $71.00 price target on the stock. in a research note on Tuesday, April 5th. Finally, TheStreet upgraded Cabot from a “c+” rating to a “b” rating in a research note on Monday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cabot currently has a consensus rating of “Buy” and a consensus target price of $75.00.

CBT stock traded down $1.57 during midday trading on Wednesday, reaching $74.04. The company’s stock had a trading volume of 12,234 shares, compared to its average volume of 407,695. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.81 and a current ratio of 1.26. The stock has a fifty day simple moving average of $68.60 and a two-hundred day simple moving average of $64.26. Cabot has a 1 year low of $47.59 and a 1 year high of $78.62. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 32.88 and a beta of 1.37.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 27th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, May 26th. Cabot’s dividend payout ratio is presently 65.78%.

In other Cabot news, CEO Sean D. Keohane sold 14,297 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $69.15, for a total value of $988,637.55. Following the completion of the sale, the chief executive officer now owns 265,718 shares of the company’s stock, valued at $18,374,399.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in CBT. Morgan Stanley raised its stake in shares of Cabot by 60.1% in the second quarter. Morgan Stanley now owns 92,941 shares of the specialty chemicals company’s stock worth $5,291,000 after purchasing an additional 34,894 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Cabot by 2.0% in the third quarter. Advisor Group Holdings Inc. now owns 9,431 shares of the specialty chemicals company’s stock worth $472,000 after purchasing an additional 188 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in Cabot during the third quarter valued at approximately $466,000. Goldman Sachs Group Inc. raised its position in Cabot by 4.4% during the third quarter. Goldman Sachs Group Inc. now owns 165,886 shares of the specialty chemicals company’s stock valued at $8,315,000 after acquiring an additional 6,982 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Cabot by 0.8% during the third quarter. Geode Capital Management LLC now owns 945,357 shares of the specialty chemicals company’s stock valued at $47,381,000 after acquiring an additional 7,315 shares in the last quarter. Hedge funds and other institutional investors own 89.50% of the company’s stock.

About Cabot (Get Rating)

Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers reinforcing carbons used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites.

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Earnings History and Estimates for Cabot (NYSE:CBT)

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