Cabot Corporation (CBT) Receives Consensus Recommendation of “Hold” from Brokerages

Cabot Corporation (NYSE:CBT) has received an average rating of “Hold” from the eight brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $59.75.

CBT has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Jefferies Group LLC reissued a “buy” rating and issued a $68.00 target price on shares of Cabot Corporation in a research report on Friday, March 24th. BidaskClub raised Cabot Corporation from a “sell” rating to a “hold” rating in a research report on Friday. Aegis reissued a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, May 31st. Finally, SunTrust Banks, Inc. initiated coverage on Cabot Corporation in a research report on Tuesday, April 18th. They issued a “buy” rating and a $56.00 target price for the company.

Shares of Cabot Corporation (NYSE:CBT) opened at 54.05 on Friday. The company’s 50-day moving average is $53.22 and its 200-day moving average is $55.41. The stock has a market cap of $3.38 billion, a P/E ratio of 14.47 and a beta of 1.08. Cabot Corporation has a 12-month low of $42.27 and a 12-month high of $61.34.

Cabot Corporation (NYSE:CBT) last announced its quarterly earnings results on Monday, May 1st. The specialty chemicals company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.02. The company had revenue of $678 million for the quarter, compared to analysts’ expectations of $637.57 million. Cabot Corporation had a net margin of 9.33% and a return on equity of 16.83%. Cabot Corporation’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. On average, equities research analysts anticipate that Cabot Corporation will post $3.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Friday, May 26th were given a dividend of $0.315 per share. The ex-dividend date was Wednesday, May 24th. This represents a $1.26 annualized dividend and a dividend yield of 2.33%. This is a positive change from Cabot Corporation’s previous quarterly dividend of $0.30. Cabot Corporation’s dividend payout ratio is presently 33.69%.

ILLEGAL ACTIVITY WARNING: This report was originally reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this report on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this report can be viewed at https://www.chaffeybreeze.com/2017/06/17/cabot-corp-cbt-receives-average-rating-of-hold-from-analysts-updated-updated-updated.html.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Cabot Corporation by 5,702.4% in the first quarter. BlackRock Inc. now owns 7,038,411 shares of the specialty chemicals company’s stock valued at $421,670,000 after buying an additional 6,917,109 shares during the last quarter. LSV Asset Management raised its stake in Cabot Corporation by 19.5% in the third quarter. LSV Asset Management now owns 3,119,581 shares of the specialty chemicals company’s stock valued at $163,497,000 after buying an additional 510,141 shares during the last quarter. AQR Capital Management LLC raised its stake in Cabot Corporation by 1.3% in the first quarter. AQR Capital Management LLC now owns 2,503,497 shares of the specialty chemicals company’s stock valued at $149,984,000 after buying an additional 31,318 shares during the last quarter. Wellington Management Group LLP raised its stake in Cabot Corporation by 0.9% in the first quarter. Wellington Management Group LLP now owns 1,484,256 shares of the specialty chemicals company’s stock valued at $88,922,000 after buying an additional 12,585 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Cabot Corporation by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,406,299 shares of the specialty chemicals company’s stock valued at $84,251,000 after buying an additional 27,957 shares during the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.

About Cabot Corporation

Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.

Receive News & Ratings for Cabot Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply