$1.27 Earnings Per Share Expected for Cabot Corp (NYSE:CBT) This Quarter

Wall Street analysts expect Cabot Corp (NYSE:CBT) to post earnings of $1.27 per share for the current quarter, according to Zacks. Three analysts have made estimates for Cabot’s earnings, with estimates ranging from $1.23 to $1.42. Cabot posted earnings per share of $1.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 27%. The firm is scheduled to report its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Cabot will report full year earnings of $4.13 per share for the current year, with EPS estimates ranging from $4.10 to $4.20. For the next financial year, analysts expect that the firm will report earnings of $4.66 per share, with EPS estimates ranging from $4.48 to $4.85. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Cabot.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.00. The company had revenue of $845.00 million for the quarter, compared to analysts’ expectations of $858.86 million. Cabot had a net margin of 8.13% and a return on equity of 19.06%. Cabot’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 earnings per share.

A number of equities research analysts have weighed in on the stock. Loop Capital cut shares of Cabot from a “buy” rating to a “hold” rating and cut their price objective for the stock from $69.00 to $41.00 in a report on Monday. Zacks Investment Research cut shares of Cabot from a “hold” rating to a “sell” rating in a report on Monday, May 6th. ValuEngine upgraded shares of Cabot from a “strong sell” rating to a “sell” rating in a report on Thursday, April 18th. Finally, TheStreet upgraded shares of Cabot from a “c+” rating to a “b-” rating in a report on Friday, July 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $64.00.

CBT traded down $1.92 during midday trading on Thursday, reaching $37.60. The company’s stock had a trading volume of 23,773 shares, compared to its average volume of 302,060. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 9.42, a price-to-earnings-growth ratio of 1.00 and a beta of 1.48. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.34 and a quick ratio of 0.86. Cabot has a 1 year low of $38.63 and a 1 year high of $67.80. The company’s 50-day simple moving average is $45.64.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Thursday, August 29th. Cabot’s dividend payout ratio (DPR) is presently 34.74%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in shares of Cabot by 4.0% in the fourth quarter. Raymond James & Associates now owns 13,316 shares of the specialty chemicals company’s stock valued at $572,000 after purchasing an additional 517 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Cabot by 228.5% in the fourth quarter. Two Sigma Advisers LP now owns 62,252 shares of the specialty chemicals company’s stock valued at $2,673,000 after purchasing an additional 43,300 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Cabot by 2.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,352 shares of the specialty chemicals company’s stock valued at $659,000 after purchasing an additional 436 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Cabot by 2.5% in the fourth quarter. Legal & General Group Plc now owns 85,500 shares of the specialty chemicals company’s stock valued at $3,672,000 after purchasing an additional 2,077 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Cabot by 2.6% in the fourth quarter. FMR LLC now owns 1,204,771 shares of the specialty chemicals company’s stock valued at $51,733,000 after purchasing an additional 30,658 shares in the last quarter. Institutional investors and hedge funds own 86.41% of the company’s stock.

About Cabot

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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