Analysts expect that Cabot Corporation (NYSE:CBT) will report sales of $641.01 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Cabot Corporation’s earnings. The lowest sales estimate is $640.00 million and the highest is $642.02 million. Cabot Corporation posted sales of $611.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.9%. The company is expected to announce its next quarterly earnings report on Wednesday, February 7th.
According to Zacks, analysts expect that Cabot Corporation will report full-year sales of $641.01 million for the current fiscal year, with estimates ranging from $2.75 billion to $2.94 billion. For the next year, analysts forecast that the company will report sales of $2.96 billion per share, with estimates ranging from $2.83 billion to $3.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Cabot Corporation.
Cabot Corporation (NYSE:CBT) last posted its quarterly earnings data on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Cabot Corporation had a return on equity of 15.11% and a net margin of 8.87%. The company had revenue of $723.00 million for the quarter, compared to analyst estimates of $683.30 million. During the same period in the previous year, the business posted $1.00 earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year.
CBT has been the subject of a number of analyst reports. ValuEngine downgraded Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. J P Morgan Chase & Co raised Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 target price for the company in a research note on Tuesday, August 15th. BidaskClub downgraded Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research raised Cabot Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Loop Capital initiated coverage on Cabot Corporation in a research note on Thursday, September 28th. They set a “hold” rating and a $59.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Cabot Corporation has an average rating of “Hold” and an average price target of $61.14.
Shares of Cabot Corporation (NYSE:CBT) opened at $60.24 on Wednesday. Cabot Corporation has a 1 year low of $50.21 and a 1 year high of $64.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.17 and a current ratio of 1.70. The firm has a market capitalization of $3,810.22, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 1.63 and a beta of 1.11.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.09%. The ex-dividend date is Wednesday, November 22nd. Cabot Corporation’s payout ratio is currently 33.07%.
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In related news, insider Hobart Kalkstein sold 3,881 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.39, for a total value of $207,206.59. Following the completion of the transaction, the insider now directly owns 27,736 shares of the company’s stock, valued at approximately $1,480,825.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. purchased a new position in Cabot Corporation in the 2nd quarter valued at approximately $432,000. Victory Capital Management Inc. increased its stake in Cabot Corporation by 42.2% in the 2nd quarter. Victory Capital Management Inc. now owns 799,592 shares of the specialty chemicals company’s stock valued at $42,722,000 after purchasing an additional 237,421 shares in the last quarter. Kennedy Capital Management Inc. purchased a new position in Cabot Corporation in the 2nd quarter valued at approximately $1,846,000. Keybank National Association OH increased its stake in Cabot Corporation by 35.5% in the 2nd quarter. Keybank National Association OH now owns 20,900 shares of the specialty chemicals company’s stock valued at $1,117,000 after purchasing an additional 5,475 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its stake in Cabot Corporation by 18.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 21,912 shares of the specialty chemicals company’s stock valued at $1,171,000 after purchasing an additional 3,383 shares in the last quarter. 84.28% 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.
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