Cabot Co. (NYSE: CBT) is expected to post earnings of $ 1.02 per share
Analysts expect Cabot Co. (NYSE: CBT) to post earnings of $ 1.02 per share for the current quarter, according to Zacks. Two analysts estimated Cabot’s earnings, with estimates ranging from $ 0.98 to $ 1.05. Cabot posted earnings per share of $ 0.68 in the same quarter last year, which would indicate a positive growth rate of 50% year-over-year. The company is expected to release its next quarterly results after the market closes on Monday, November 8.
According to Zacks, analysts expect Cabot to report annual earnings of $ 4.97 per share for the current fiscal year, with EPS estimates ranging from $ 4.90 to $ 5.05. For the next fiscal year, analysts expect the company to post earnings of $ 5.52 per share, with EPS estimates ranging from $ 5.30 to $ 5.70. Zacks earnings per share averages are an average based on a survey of seller-side research analysts who cover Cabot.
Cabot (NYSE: CBT) last released its results on Sunday, August 8. The specialty chemicals company reported earnings per share (EPS) of $ 1.35 for the quarter, beating the consensus estimate of $ 1.18 by $ 0.17. Cabot had a positive return on equity of 27.56% and a negative net margin of 1.61%. The company posted revenue of $ 917.00 million for the quarter, compared to a consensus estimate of $ 804.70 million. During the same period of the previous year, the company made EPS ($ 0.07). The company’s revenue increased 77.0% year-on-year.
Several stock analysts recently published reports on the company. TheStreet downgraded Cabot from a “b-” rating to a “c +” rating in a research report on Tuesday, July 20. Jefferies Financial Group assumed Cabot coverage in a research report on Tuesday, September 14. They issued a “buy” note and a target price of $ 75.00 on the stock. Zacks Investment Research downgraded Cabot from a “buy” rating to a “hold” rating and set a target price of $ 52.00 for the stock. in a research report on Wednesday, September 15. JPMorgan Chase & Co. downgraded Cabot shares from a “neutral” rating to an “overweight” rating and set a price target of $ 62.00 on the stock in a report released on Friday, July 23. Finally, Loop Capital downgraded Cabot’s shares from a “hold” rating to a “buy” rating and set a price target of $ 78.00 on the stock in a report released on Thursday, July 1. One investment analyst rated the stock with a sell rating, two issued a conservation rating, and six issued a buy rating for the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $ 71.89.
Hedge funds recently bought and sold shares in the company. Cullen Frost Bankers Inc. purchased a new equity stake in Cabot during the second quarter valued at approximately $ 34,000. Nisa Investment Advisors LLC increased its stake in Cabot shares by 100.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the specialty chemicals company valued at $ 57,000 after acquiring an additional 500 shares in the last quarter. Parisi Gray Wealth Management purchased a new stake in Cabot shares during the second quarter valued at approximately $ 69,000. Bbva USA acquired a new stake in Cabot shares during the 2nd quarter valued at approximately $ 113,000. Finally, First Bank & Trust increased its stake in Cabot shares by 18.7% during the second quarter. First Bank & Trust now owns 1,994 shares of the specialty chemicals company valued at $ 113,000 after acquiring an additional 314 shares in the last quarter. 90.44% of the shares are currently held by institutional investors and hedge funds.
NYSE CBT opened at $ 53.79 on Friday. The company has a leverage ratio of 0.99, a current ratio of 1.95, and a quick ratio of 1.25. The stock’s fifty-day moving average price is $ 52.17 and its 200-day moving average price is $ 55.76. Cabot has a one-year low at $ 36.64 and a one-year high at $ 65.25. The company has a market cap of $ 3.05 billion, a price-to-earnings ratio of -55.45 and a beta of 1.64.
Cabot Corp. is a global specialty chemicals and performance materials company. Its products are special grade rubber and carbon blacks, special compounds, smoked metal oxides, activated carbons, inkjet dyes and airgels. The company operates in the following segments: reinforcing materials, performance chemicals and purification solutions.
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