Cabot Corp. (CBT) Posts Quarterly Earnings Results, Beats Estimates By $0.15 EPS
Cabot Corp. (NYSE:CBT) released its earnings data on Thursday. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.15, AnalystRatingsNetwork reports. The company had revenue of $899.00 million for the quarter, compared to the consensus estimate of $854.67 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis.
CBT has been the subject of a number of recent research reports. Analysts at Northcoast Research raised their price target on shares of Cabot Corp. from $52.00 to $60.00 in a research note to investors on Friday, January 24th. Analysts at Jefferies Group raised their price target on shares of Cabot Corp. from $57.00 to $61.00 in a research note to investors on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and an average price target of $47.64.
Cabot Corp. (NYSE:CBT) opened at 47.32 on Thursday. Cabot Corp. has a 1-year low of $32.13 and a 1-year high of $52.43. The stock has a 50-day moving average of $50.29 and a 200-day moving average of $45.02. The company has a market cap of $3.033 billion and a P/E ratio of 20.10.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of 0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Wednesday, February 26th.
Cabot Corporation (NYSE:CBT) is a global specialty chemicals and performance materials company.
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