Cabot Corp (NYSE:CBT) – Analysts at Jefferies Financial Group reduced their Q2 2019 EPS estimates for Cabot in a research report issued to clients and investors on Thursday, March 28th, according to Zacks Investment Research. Jefferies Financial Group analyst L. Alexander now anticipates that the specialty chemicals company will post earnings of $0.95 per share for the quarter, down from their previous forecast of $1.02. Jefferies Financial Group also issued estimates for Cabot’s Q4 2019 earnings at $1.35 EPS.
Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, February 4th. The specialty chemicals company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.03). Cabot had a net margin of 2.33% and a return on equity of 19.05%. The firm had revenue of $821.00 million for the quarter, compared to the consensus estimate of $778.50 million. During the same period in the prior year, the business earned $0.93 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis.
CBT stock traded up $0.07 during trading on Friday, hitting $48.05. 183,973 shares of the stock traded hands, compared to its average volume of 304,740. Cabot has a one year low of $39.57 and a one year high of $67.80. The company has a market capitalization of $2.86 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.04 and a beta of 1.37. The company has a quick ratio of 0.75, a current ratio of 1.31 and a debt-to-equity ratio of 0.53.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Cabot by 0.9% in the third quarter. Vanguard Group Inc. now owns 5,112,514 shares of the specialty chemicals company’s stock worth $320,657,000 after acquiring an additional 47,083 shares during the last quarter. Vanguard Group Inc grew its position in shares of Cabot by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 5,112,514 shares of the specialty chemicals company’s stock worth $320,657,000 after buying an additional 47,083 shares during the period. Bank of New York Mellon Corp grew its position in shares of Cabot by 26.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,355,240 shares of the specialty chemicals company’s stock worth $210,442,000 after buying an additional 691,985 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Cabot by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,308,212 shares of the specialty chemicals company’s stock worth $56,174,000 after buying an additional 18,543 shares during the period. Finally, FMR LLC grew its position in shares of Cabot by 2.6% during the 4th quarter. FMR LLC now owns 1,204,771 shares of the specialty chemicals company’s stock worth $51,733,000 after buying an additional 30,658 shares during the period. 86.61% of the stock is owned by institutional investors.
Cabot Company Profile
Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.
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