Brokerages Expect Cabot Co. (NYSE:CBT) to Post $1.19 EPS

Equities research analysts forecast that Cabot Co. (NYSE:CBT) will announce $1.19 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Cabot’s earnings, with the highest EPS estimate coming in at $1.37 and the lowest estimate coming in at $1.02. Cabot posted earnings of ($0.07) per share in the same quarter last year, which would indicate a positive year over year growth rate of 1,800%. The firm is scheduled to issue its next earnings results after the market closes on Monday, August 9th.

According to Zacks, analysts expect that Cabot will report full-year earnings of $4.94 per share for the current financial year, with EPS estimates ranging from $4.85 to $5.05. For the next year, analysts anticipate that the company will post earnings of $5.19 per share, with EPS estimates ranging from $4.85 to $5.45. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Cabot.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Sunday, May 2nd. The specialty chemicals company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.41. The firm had revenue of $842.00 million for the quarter, compared to analyst estimates of $771.05 million. Cabot had a positive return on equity of 19.21% and a negative net margin of 5.17%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS.

A number of research analysts have recently commented on CBT shares. TheStreet cut Cabot from a “b-” rating to a “c+” rating in a research note on Tuesday. Loop Capital upgraded Cabot from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Thursday, July 1st. Northcoast Research upgraded Cabot from a “neutral” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Wednesday, May 5th. Zacks Investment Research cut Cabot from a “strong-buy” rating to a “hold” rating and set a $56.00 target price for the company. in a research note on Tuesday, April 6th. Finally, Barclays raised their target price on Cabot from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, May 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $72.00.

In other news, SVP Karen A. Kalita sold 10,757 shares of the business’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $62.84, for a total value of $675,969.88. Following the completion of the transaction, the senior vice president now owns 21,687 shares in the company, valued at $1,362,811.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.78% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of CBT. Renaissance Technologies LLC grew its holdings in shares of Cabot by 125.6% in the fourth quarter. Renaissance Technologies LLC now owns 156,600 shares of the specialty chemicals company’s stock worth $7,028,000 after acquiring an additional 87,200 shares during the period. Rhumbline Advisers grew its holdings in shares of Cabot by 4.6% in the fourth quarter. Rhumbline Advisers now owns 156,927 shares of the specialty chemicals company’s stock worth $7,043,000 after acquiring an additional 6,917 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Cabot in the fourth quarter worth $232,000. Citigroup Inc. grew its holdings in shares of Cabot by 69.5% in the fourth quarter. Citigroup Inc. now owns 10,629 shares of the specialty chemicals company’s stock worth $478,000 after acquiring an additional 4,358 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Cabot in the fourth quarter worth $51,000. 86.76% of the stock is owned by institutional investors.

Shares of CBT traded down $1.01 on Friday, reaching $51.40. The stock had a trading volume of 6,026 shares, compared to its average volume of 731,984. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -20.00 and a beta of 1.66. The company has a quick ratio of 1.22, a current ratio of 1.89 and a debt-to-equity ratio of 1.15. The company’s 50-day moving average price is $59.64. Cabot has a 12-month low of $34.84 and a 12-month high of $65.25.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Stockholders of record on Friday, August 27th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Thursday, August 26th. Cabot’s dividend payout ratio is currently 67.31%.

About Cabot

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 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 engineered elastomer composites.

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Earnings History and Estimates for Cabot (NYSE:CBT)

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