Zacks: Analysts Anticipate Cabot Corp (CBT) Will Post Quarterly Sales of $899.91 Million

Wall Street brokerages expect Cabot Corp (NYSE:CBT) to report $899.91 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Cabot’s earnings. The lowest sales estimate is $897.00 million and the highest is $902.81 million. Cabot reported sales of $818.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 10%. The business is scheduled to report its next earnings results on Monday, May 6th.

According to Zacks, analysts expect that Cabot will report full-year sales of $3.43 billion for the current year, with estimates ranging from $3.32 billion to $3.48 billion. For the next year, analysts forecast that the firm will post sales of $3.58 billion, with estimates ranging from $3.43 billion to $3.69 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Cabot.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, February 4th. The specialty chemicals company reported $0.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.03). The firm had revenue of $821.00 million for the quarter, compared to analyst estimates of $778.50 million. Cabot had a return on equity of 18.95% and a net margin of 2.33%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS.

CBT has been the subject of a number of research reports. TheStreet raised shares of Cabot from a “c” rating to a “b-” rating in a report on Tuesday. Northcoast Research set a $75.00 price target on shares of Cabot and gave the company a “buy” rating in a report on Wednesday, November 7th. Loop Capital set a $82.00 price target on shares of Cabot and gave the company a “buy” rating in a report on Tuesday, November 6th. Zacks Investment Research lowered shares of Cabot from a “hold” rating to a “sell” rating in a report on Monday. Finally, ValuEngine raised shares of Cabot from a “strong sell” rating to a “sell” rating in a report on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $75.33.

Several institutional investors have recently modified their holdings of CBT. Meeder Asset Management Inc. boosted its stake in Cabot by 28.2% in the fourth quarter. Meeder Asset Management Inc. now owns 1,049 shares of the specialty chemicals company’s stock valued at $45,000 after acquiring an additional 231 shares during the last quarter. Lindbrook Capital LLC bought a new position in Cabot in the fourth quarter valued at approximately $28,000. IFP Advisors Inc boosted its stake in Cabot by 723.5% in the fourth quarter. IFP Advisors Inc now owns 1,087 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 955 shares during the last quarter. Federated Investors Inc. PA boosted its stake in Cabot by 4.0% in the third quarter. Federated Investors Inc. PA now owns 29,434 shares of the specialty chemicals company’s stock valued at $1,847,000 after acquiring an additional 1,132 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Cabot by 1.3% in the third quarter. Hsbc Holdings PLC now owns 98,709 shares of the specialty chemicals company’s stock valued at $6,191,000 after acquiring an additional 1,222 shares during the last quarter. 85.91% of the stock is owned by institutional investors and hedge funds.

Shares of Cabot stock traded down $0.89 during midday trading on Friday, reaching $42.93. The company had a trading volume of 466,100 shares, compared to its average volume of 409,073. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.46 and a quick ratio of 0.92. The firm has a market cap of $2.58 billion, a P/E ratio of 10.65, a P/E/G ratio of 0.93 and a beta of 1.44. Cabot has a 1-year low of $39.57 and a 1-year high of $67.80.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Friday, February 22nd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Thursday, February 21st. Cabot’s dividend payout ratio is currently 32.75%.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. 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 compounds of carbon black and rubber.

Read More: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?

Get a free copy of the Zacks research report on Cabot (CBT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Cabot (NYSE:CBT)

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

Leave a Reply