FY2018 EPS Estimates for Cabot Corp Increased by Analyst (CBT)
Cabot Corp (NYSE:CBT) – Equities research analysts at SunTrust Banks increased their FY2018 earnings per share estimates for shares of Cabot Corp in a research note issued on Tuesday. SunTrust Banks analyst J. Sheehan now anticipates that the specialty chemicals company will post earnings of $3.72 per share for the year, up from their prior forecast of $3.46. SunTrust Banks has a “Buy” rating and a $56.00 price target on the stock. SunTrust Banks also issued estimates for Cabot Corp’s FY2019 earnings at $4.02 EPS and FY2020 earnings at $4.29 EPS.
Several other brokerages have also recently commented on CBT. Jefferies Group LLC reiterated a “buy” rating and issued a $68.00 price target on shares of Cabot Corp in a research report on Tuesday, May 2nd. Zacks Investment Research cut shares of Cabot Corp from a “hold” rating to a “sell” rating in a research report on Monday, February 6th. Northcoast Research upgraded shares of Cabot Corp from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Wednesday. Finally, TheStreet upgraded shares of Cabot Corp from a “c+” rating to a “b” rating in a research report on Thursday, February 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Cabot Corp currently has an average rating of “Buy” and a consensus target price of $61.00.
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Shares of Cabot Corp (NYSE:CBT) traded down 0.89% during trading on Thursday, hitting $52.53. 139,045 shares of the stock were exchanged. Cabot Corp has a 12-month low of $42.27 and a 12-month high of $61.34. The stock has a 50-day moving average of $55.88 and a 200 day moving average of $55.21. The stock has a market cap of $3.28 billion, a P/E ratio of 14.06 and a beta of 1.21.
Cabot Corp (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, beating the Zacks’ consensus estimate of $0.85 by $0.02. The business had revenue of $678 million during the quarter, compared to the consensus estimate of $637.57 million. Cabot Corp had a net margin of 8.68% and a return on equity of 16.25%. The business’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Friday, May 26th will be given a $0.315 dividend. The ex-dividend date is Wednesday, May 24th. This is a boost from Cabot Corp’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a yield of 2.38%. Cabot Corp’s payout ratio is 36.14%.
In other Cabot Corp news, Director Patrick M. Prevost sold 61,363 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $59.14, for a total value of $3,629,007.82. Following the sale, the director now directly owns 328,053 shares in the company, valued at $19,401,054.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of CBT. TradeLink Capital LLC increased its stake in Cabot Corp by 20.0% in the third quarter. TradeLink Capital LLC now owns 5,356 shares of the specialty chemicals company’s stock valued at $281,000 after buying an additional 894 shares during the last quarter. LSV Asset Management increased its stake in Cabot Corp 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. BlackRock Group LTD increased its stake in Cabot Corp by 17.1% in the third quarter. BlackRock Group LTD now owns 56,309 shares of the specialty chemicals company’s stock valued at $2,951,000 after buying an additional 8,223 shares during the last quarter. Pacer Advisors Inc. increased its stake in Cabot Corp by 9.3% in the third quarter. Pacer Advisors Inc. now owns 5,799 shares of the specialty chemicals company’s stock valued at $304,000 after buying an additional 492 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Cabot Corp by 42.5% in the third quarter. Two Sigma Advisers LP now owns 72,452 shares of the specialty chemicals company’s stock valued at $3,797,000 after buying an additional 21,600 shares during the last quarter. Hedge funds and other institutional investors own 86.29% of the company’s stock.
About Cabot Corp
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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