Cabot (CBT) to Release Quarterly Earnings on Monday

Cabot (NYSE:CBTGet Rating) is scheduled to be issuing its quarterly earnings data after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of $1.53 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Cabot (NYSE:CBTGet Rating) last announced its earnings results on Monday, May 2nd. The specialty chemicals company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.29. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $918.99 million. Cabot had a net margin of 3.43% and a return on equity of 29.91%. During the same period last year, the firm posted $1.38 earnings per share. On average, analysts expect Cabot to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Cabot Trading Up 1.7 %

Shares of CBT opened at $74.26 on Monday. The firm’s 50 day simple moving average is $68.53 and its 200 day simple moving average is $67.72. The company has a market capitalization of $4.19 billion, a P/E ratio of 33.00 and a beta of 1.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.26 and a quick ratio of 0.81. Cabot has a 1-year low of $47.59 and a 1-year high of $78.62.

Cabot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 26th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, August 25th. Cabot’s dividend payout ratio is currently 65.78%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CBT shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cabot from $65.00 to $74.00 in a research report on Tuesday, May 17th. TheStreet upgraded shares of Cabot from a “c+” rating to a “b” rating in a research report on Monday, May 2nd. Finally, StockNews.com cut shares of Cabot from a “buy” rating to a “hold” rating in a report on Wednesday, June 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.40.

Insider Activity at Cabot

In other Cabot news, CEO Sean D. Keohane sold 14,297 shares of the firm’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $69.15, for a total transaction of $988,637.55. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cabot news, SVP Karen A. Kalita sold 4,575 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $78.13, for a total transaction of $357,444.75. Following the completion of the transaction, the senior vice president now owns 25,874 shares of the company’s stock, valued at $2,021,535.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sean D. Keohane sold 14,297 shares of the firm’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $69.15, for a total value of $988,637.55. Following the transaction, the chief executive officer now directly owns 265,718 shares of the company’s stock, valued at approximately $18,374,399.70. The disclosure for this sale can be found here. Insiders have sold a total of 36,107 shares of company stock worth $2,687,999 over the last quarter. Corporate insiders own 1.78% of the company’s stock.

Hedge Funds Weigh In On Cabot

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates raised its position in shares of Cabot by 8.2% in the 1st quarter. Raymond James & Associates now owns 33,134 shares of the specialty chemicals company’s stock worth $2,267,000 after purchasing an additional 2,521 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Cabot by 5.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,740 shares of the specialty chemicals company’s stock worth $598,000 after purchasing an additional 417 shares during the last quarter. AlphaCrest Capital Management LLC raised its position in shares of Cabot by 13.3% in the 1st quarter. AlphaCrest Capital Management LLC now owns 4,176 shares of the specialty chemicals company’s stock worth $286,000 after purchasing an additional 491 shares during the last quarter. Natixis Advisors L.P. purchased a new position in shares of Cabot in the 1st quarter worth about $712,000. Finally, Panagora Asset Management Inc. purchased a new position in shares of Cabot in the 1st quarter worth about $282,000. 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.

Further Reading

Earnings History for Cabot (NYSE:CBT)

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