Cabot (CBT) Scheduled to Post Earnings on Monday

Cabot (NYSE:CBT) is set to issue its quarterly earnings data after the market closes on Monday, November 4th. Analysts expect the company to announce earnings of $1.82 per share for the quarter. Cabot has set its FY24 guidance at $7.00-$7.10 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Cabot (NYSE:CBT) last released its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.72 by $0.20. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the firm posted $1.42 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. On average, analysts expect Cabot to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Cabot Price Performance

Cabot stock opened at $109.26 on Monday. The stock’s 50 day moving average price is $107.40 and its two-hundred day moving average price is $100.31. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22. Cabot has a 52-week low of $65.10 and a 52-week high of $117.14.

Analysts Set New Price Targets

CBT has been the subject of a number of research reports. UBS Group reduced their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. raised their price objective on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Cabot presently has an average rating of “Hold” and an average price target of $101.75.

Insider Transactions at Cabot

In related news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the transaction, the chief executive officer now owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the transaction, the chief executive officer now directly owns 331,174 shares in the company, valued at approximately $33,630,719.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Erica Mclaughlin sold 23,274 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the completion of the sale, the chief financial officer now owns 59,814 shares of the company’s stock, valued at approximately $5,968,839.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,939 shares of company stock valued at $7,308,812 over the last three months. 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.