FY2017 EPS Estimates for Cabot Corporation Cut by Analyst (NYSE:CBT)
Cabot Corporation (NYSE:CBT) – Investment analysts at Northcoast Research decreased their FY2017 earnings per share estimates for shares of Cabot Corporation in a research note issued to investors on Thursday. Northcoast Research analyst K. Hocevar now expects that the specialty chemicals company will earn $3.45 per share for the year, down from their prior estimate of $3.50. Northcoast Research currently has a “Buy” rating and a $63.00 target price on the stock.
Cabot Corporation (NYSE:CBT) last announced its quarterly earnings data on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by $0.04. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The company had revenue of $705 million for the quarter, compared to the consensus estimate of $664.16 million. During the same quarter in the previous year, the business earned $0.93 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Cabot Corporation from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. ValuEngine cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Jefferies Group LLC set a $68.00 target price on shares of Cabot Corporation and gave the company a “buy” rating in a research report on Thursday, June 8th. Finally, Aegis reaffirmed a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $59.67.
Shares of Cabot Corporation (NYSE CBT) opened at 52.67 on Monday. Cabot Corporation has a one year low of $47.99 and a one year high of $61.34. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 14.77 and a beta of 1.05. The company’s 50-day moving average is $53.88 and its 200-day moving average is $55.84.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be given a dividend of $0.315 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $1.26 annualized dividend and a dividend yield of 2.39%. Cabot Corporation’s dividend payout ratio is presently 35.29%.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of 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 in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Cabot Corporation during the second quarter valued at about $27,643,000. Canada Pension Plan Investment Board acquired a new stake in shares of Cabot Corporation during the second quarter valued at about $7,160,000. Bank of America Corp DE boosted its stake in shares of Cabot Corporation by 22.9% in the first quarter. Bank of America Corp DE now owns 703,563 shares of the specialty chemicals company’s stock valued at $42,151,000 after buying an additional 131,109 shares in the last quarter. Finally, Opus Capital Group LLC boosted its stake in shares of Cabot Corporation by 2,343.8% in the first quarter. Opus Capital Group LLC now owns 124,730 shares of the specialty chemicals company’s stock valued at $7,473,000 after buying an additional 119,626 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.
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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