Cabot (CBT) Scheduled to Post Earnings on Monday

Cabot (NYSE:CBT) is scheduled to release its earnings data after the market closes on Monday, May 6th. Analysts expect Cabot to post earnings of $1.66 per share for the quarter. Cabot has set its FY24 guidance at $6.30-$6.80 EPS and its FY 2024 guidance at 6.300-6.800 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, February 5th. The specialty chemicals company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The firm had revenue of $958.00 million for the quarter, compared to analysts’ expectations of $927.28 million. Cabot had a return on equity of 25.52% and a net margin of 11.24%. On average, analysts expect Cabot to post $7 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Cabot Stock Down 0.1 %

Shares of NYSE CBT opened at $94.10 on Friday. The business has a fifty day moving average of $90.34 and a two-hundred day moving average of $81.17. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.30 and a current ratio of 2.04. Cabot has a 52-week low of $63.73 and a 52-week high of $98.34. The stock has a market cap of $5.22 billion, a PE ratio of 12.22, a PEG ratio of 0.97 and a beta of 1.27.

Analyst Ratings Changes

Several brokerages have recently commented on CBT. UBS Group cut Cabot from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $90.00 to $87.00 in a report on Monday, January 8th. Mizuho started coverage on shares of Cabot in a report on Wednesday, March 27th. They set a “buy” rating and a $104.00 price objective on the stock. StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Cabot from a “buy” rating to a “hold” rating and increased their price target for the company from $88.00 to $95.00 in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Cabot has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Insiders Place Their Bets

In related news, EVP Jeff Ji Zhu sold 55,233 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $79.91, for a total value of $4,413,669.03. Following the completion of the transaction, the executive vice president now directly owns 97,201 shares in the company, valued at approximately $7,767,331.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.07% of the company’s stock.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are 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 solutions.