Cabot (NYSE:CBT) released its quarterly earnings data on Sunday. The specialty chemicals company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.41, MarketWatch Earnings reports. Cabot had a positive return on equity of 11.67% and a negative net margin of 9.10%. The company had revenue of $842.00 million during the quarter, compared to the consensus estimate of $771.05 million. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The firm’s revenue was up 18.6% compared to the same quarter last year.
Shares of CBT traded up $1.31 during trading hours on Tuesday, reaching $57.40. The stock had a trading volume of 388,748 shares, compared to its average volume of 293,936. Cabot has a 12 month low of $26.95 and a 12 month high of $58.70. The firm has a 50-day simple moving average of $53.69 and a 200 day simple moving average of $47.26. The company has a current ratio of 1.85, a quick ratio of 1.17 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of -13.54 and a beta of 1.60.
A number of equities analysts have issued reports on the company. Zacks Investment Research cut Cabot from a “strong-buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a report on Tuesday, April 6th. Barclays increased their price target on Cabot from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, February 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Cabot currently has an average rating of “Hold” and a consensus price target of $63.00.
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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